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The Latest Breaking News from Kering

Burberry Launches Turnaround Plan As Posts Loss

Troubled British fashion house Burberry on Thursday announced cost-cutting plans after posting a loss, with the global luxury sector pressured by weak Chinese demand.

International Business Times

Salma Hayek never signed prenup with husband François-Henri Pinault, who’s worth over $20bn

François-Henri Pinault, who married Hayak in 2009, is the billionaire CEO of luxury group Kering

The Independent UK

Salma Hayek feels 'pressure' to make money

Actress Salma Hayek has admitted she feels "pressure" to make money despite being married to billionaire businessman Francois-Henri Pinault - revealing she likes to make her own living.

BANG Premier

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Fashion experts raise concern about return to ‘extremely thin models’

Data shows reverse in trend towards inclusivity with 95% of looks in 208 recent shows modelled by size-zero women

The Guardian - UK

Bottega Veneta Holds Investors' Aces As Madonna Pops Into D&G Runway Show

As Milan Fashion Week nears its end, fashionistas are eagerly awaiting Bottega Veneta's Saturday show -- as are investors seeing the brand's sales rise each year.

International Business Times

Kim Kardashian, Lindsay Lohan and more channel ‘demure’ glamour at charity dinner in New York

The Kering Foundation’s Caring for Women dinner brought together the crème de la crème of LA philanthropic stars.

The Independent UK

Kate’s wedding dress designer Sarah Burton named Givenchy creative chief

Macclesfield-born creative director left the top job at Alexander McQueen last year

The Guardian - UK

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Is luxury fashion in its flop era?

As #underconsumptioncore trends on TikTok and gen Z turns to vintage, high-end houses fret over stalling demand

The Guardian - US

OPINION - Louis Vuitton medal trays can't hide the luxury slump that's afflicting fashion

Only the fashion industry could make partying while Rome burns (take your pick from global crises), look quite so fabulous. The night prior to the Olympic opening ceremony, Dame Anna Wintour jetted into Paris to host what felt like an extended version of June’s Vogue World event.

Evening Standard

Sabato de Sarno unveils Gucci precision saturated in color to close Milan Fashion Week

It’s been creative director musical chairs at some of Italy’s top fashion houses, and the pressure is showing, at least on social media

The Independent UK

Sabato De Sarno is exiting Gucci, plus other major industry shake-ups

The game of creative director musical chairs (and swirling rumours) continues

Marie Claire

Best Dressed Celebs on the Cannes Red Carpet

Celebrities really bring their A game to the red carpet, stopping to pose for pictures in glamorous gowns and amazing ensembles.

Fashion Times

Gucci gets into its new groove at Tate Modern London show — with help from Kate Moss and Debbie Harry

Creative director Sabato De Sarno delivers collection blending Englishness with Italian flourish

Evening Standard

The Crazy Designer Moves and Shakeups on Planet Fashion is Getting a Little Ridiculous

We can barely get confident pronouncing designers' names before they're back out through the industry's ever-revolving door.

Fashion Times

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The Guardian - UK

Gucci owner Kering issues profit warning after China sales slump

Like-for-like sales at luxury goods group down by 10% in first quarter, weighed by nearly 20% fall at Gucci

Marie Claire

Bottega Veneta's First In-House Fragrance Will Have Big It-Bag Energy

Here's what we know about the scent so far.

International Business Times

Gucci Owner Kering Profits Slump In 'Trying Year'

French luxury giant Kering on Thursday reported a drop in 2023 earnings but vowed to press on with its investment strategy to put flagship brand Gucci "back on track".

Evening Standard

Luxury slowdown will continue into 2024, Gucci owner Kering says

Sales of expensive clothes, shoes and handbags have come crashing back to earth after an initial post-pandemic boom

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news in one place.

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Latin Times

Gucci Owner Kering Says Profit Fell 17% In 2023

Kering, whose other houses include Yves Saint Laurent, Balenciaga and Bottega Veneta, reported a 17 percent drop in net profit to 2.98 billion euros ($3.2 billion).

The Guardian - UK

Blokecore, The Waste Land and Maggie Smith: the year in fashion

In 2023 there have been highs, lows, brilliance and misfires – and that’s just the clothes. We take a look back at the catwalks, inspiration and snacks that have been in-demand

Fortune

LVMH and Kering felt the pinch in 2023—but a new type of luxury is gaining a share of consumers' wallets

“What we’ve observed in 2023 is a rebalancing of customer appetite," Bain expert says of the luxury industry.

Evening Standard

Fashion Power 100 revealed: the hottest industry style players ranked

From designer heavyweights to industry titans and trending ingenues, the Standard has ranked the style world’s most significant figures of 2023 from one to 100

The Guardian - UK

Male, pale and out of step: why fashion houses have such a problem with diversity

While privileged white men continue to dominate the industry, women and minorities are finding it harder to make their mark. Here’s what must be done…

The Guardian - UK

Gucci design staff strike in protest at plan to relocate to Milan

About 50 workers take part in action, claiming move from Rome would be tantamount to collective dismissal

Fortune

Burberry joins LVMH and Gucci in the luxury slump as brand says it may miss its revenue target for the year

Burberry's half-year sales inched up just a little, pointing to a luxury downturn that its rivals like LVMH and Kering have been experiencing.

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