On February 11, French luxury conglomerate Kering released its Q4 2024 financial results, reporting revenue of $4.5 billion (€4.39 billion), a 12% decline year-over-year.
Tag: KERING
The Challenges Faced by the Luxury Industry in 2024: LVMH, L’Oréal, and Kering Suffer Massive Losses
In 2024, the leading figures of France’s luxury industry encountered unprecedented challenges.
Kering, a leading conglomerate in the luxury industry, is moving forward with plans to bring in external investors for a new entity that will manage approximately €4 billion ($4.2 billion) worth of real estate assets spread across Milan, New York, and Paris.
On November 18, luxury giant Kering announced the appointment of Cédric Charbit as the new CEO of Saint Laurent and Gianfranco Gianangeli as the new CEO of Balenciaga, effective January 2, 2025.
On October 23, French luxury conglomerate Kering announced that its third-quarter revenue amounted to €3.78 billion (approximately $4.08 billion), a 16% decline compared to the same period last year.
On October 8, the French luxury group Kering announced that Stefano Cantino would be appointed CEO of Gucci, effective January 1, 2025.
On April 2, Reuters revealed that Marco Bizzarri, former CEO of Gucci, has established a new investment firm.
On March 22, Valentino’s Creative Director Pierpaolo Piccioli announced his retirement. Piccioli’s successor will be announced shortly.
Generative AI technologies have the potential to transform a wide variety of customer touchpoints, including e-commerce sites, targeted advertising, and the customer experience in physical stores.
Tapestry, the parent company of Coach, is acquiring Capri Holdings, which owns fashion brands such as Michael Kors, Versace, and Jimmy Choo. The purchase price is approximately $8.5 billion.