Kering Archive

Kering Results Show 17% Surge at Gucci, Slip at Bottega Veneta

PARIS, France — Italian fashion brand Gucci confirmed its turnaround with a 17 percent rise in third-quarter comparable sales, helping make up for a 10.9 percent sales drop at sister brand Bottega Veneta, parent Kering said on Tuesday. Gucci, in double digit sales growth territory for the first time since 2012, accounts for more than 60 percent of Kering’s operating profit. Analysts had expected its …

New CEO Takes Reins at Christopher Kane

LONDON, United Kingdom — Nikolas Talonpoika has been appointed chief executive officer of Christopher Kane, succeeding Sarah Crook, who is leaving the Kering-owned brand after two years. Talonpoika, who will commence his new role on October 12, was previously strategic marketing and media director of Kering, and will report to Jean-François Palus, Kering’s group managing director. According to a statement from Kering, Talonpoika’s mission will be …

Luxury Makers’ Dubious Dividends Make Them Target for Shorts

PARIS, France — Higher dividends at a handful of struggling posh-product makers are a luxury they may not be able to afford. So goes the bear case on companies such as Richemont and Tod’s SpA, both down more than 20 percent this year and both still squarely in the sights of short sellers. Lingering expectations that they will raise dividends even after reporting declining sales …

Burberry and Kering Best Positioned to Tap South Korea

LONDON, United Kingdom — South Korea’s large luxury domestic market, steady influx of Chinese tourists and strong department store distribution model represents a unique opportunity for global luxury brands, according to new research by Exane BNP Paribas. Interest in South Korea has grown substantially over the past decade, driven, in part, by the country’s unique melding of fashion, music, entertainment and celebrity. Indeed, only last …

Bottoms Up on Hermès, LVMH and Kering Performance

LONDON, United Kingdom — The Savigny Luxury index (“SLI”) staged a relief rally this month, gaining over 7 percent whilst the MSCI World Index (“MSCI”) gained almost 4 percent. Better-than-expected first half results took some of the sting out of the sector’s most severe correction in seven years. Big news The luxury sector stepped up to the plate this first half, surprising investors on the …