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Kering CFO Says Group Continues To Scout The Market, Priority Remains Organic Growth Of Its Brands
Kering Q3 Sales Down At EUR 3.72 Billion
Kering To Sell Around 8.8 Million Shares Of Its Puma Stake
Kering SA is a France-based luxury group. It owns a portfolio of fashion brands, such as Saint Laurent, Gucci, Bottega Veneta, Alexander McQueen, Balenciaga, Boucheron, Brioni, Pomellato, Qeelin and Ulysse Nardin, among others. The Group manufactures and sell, mostly through managed retail stores, a wide range of products, including leather goods, apparel, accessories, footwear, watches and jewelry, among others, for man, woman and child. The Group is active globally.
40 rue de Sevres
Non-Independent Chairman of the Board, Chief Executive Officer, Member of the Executive Committee
Vice Chairwoman of the Board - Representative of Financiere Pinault
Chief Financial Officer, Member of the Executive Committee
Chief People Officer, Member of the Executive Committee
Group Managing Director, Member of the Executive Committee, Non-Independent Director
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Shoppers are not allowed inside, and the pavement outside is nearly empty, but the French capital's Printemps department store lit up its Christmas window display on Tuesday because - global epidemic or not - it is an annual tradition.
The Swiss Watches & Wonders show, which hoped to bring together brands like Rolex, Patek Philippe and Cartier on location in Geneva in April, will be cancelled and replaced by a purely digital event, organisers said on Tuesday.
French department store chain Printemps, a magnet for foreign shoppers seeking high-end goods in Paris, will close some of its operations in France as it struggles to cope with the coronavirus pandemic, the CGT union said on Tuesday.
Coach owner Tapestry Inc <TPR.N> beat quarterly results estimates on Thursday and forecast growth for the year as demand for luxury handbags and apparel rebounds in China from pandemic lows.
French luxury group Kering <PRTP.PA> confirmed a broad recovery in sales of high-end goods in the third quarter as strong Asian and U.S. demand helped revenues improve, though its star Gucci brand underperformed rivals.
Shares in Puma <PUMG.DE> fell 3.5% on Tuesday after French luxury group Kering <PRTP.PA> said it had completed the sale of a 5.9% stake in the German sportswear company for approximately 656 million euros ($772 million).
Kering-owned <PRTP.PA> Swiss watch brands Ulysse Nardin and Girard-Perregaux said on Monday they were cutting about 100 jobs, or a quarter of their total workforce, after sales were hit by the coronavirus crisis.
French luxury group Kering <PRTP.PA> said on Tuesday second-quarter comparable sales plunged by 43.7% due to the COVID-19 pandemic, adding it could not provide a forecast for the second half of the year despite an encouraging recovery in Asia.
French luxury group Kering said second-quarter comparable sales had plunged by 43.7% due to the coronavirus pandemic, adding it could not provide a forecast for the second half of the year despite an encouraging recovery in Asia.
French luxury giant Kering <PRTP.PA> is opening a laboratory in Tuscany that will carry out chemical and other tests on its products and raw materials to check their quality and sustainability, it said on Thursday.
British actress Emma Watson, famed for playing Hermione in the Harry Potter film series, and former Credit Suisse boss Tidjane Thiam are set to join the board of French luxury group Kering as it pushes to raise its profile in areas such as sustainability.
Italy's biggest retail bank Intesa Sanpaolo <ISP.MI> has signed an accord with Gucci to ease financing for the small businesses that supply the Florentine luxury goods group owned by France's Kering <PRTP.PA>.
Corona Capital is a daily column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.
Gucci sales were hit hard early in the coronavirus crisis due to the fashion group's reliance on Chinese customers, owner Kering <PRTP.PA> said on Tuesday, adding that it was premature to say how quickly China sales would rebound.
French luxury goods group Kering said on Tuesday comparable sales fell by 16.4% in the first quarter, with its Gucci brand hit harder than its other labels due to its strong exposure to China at the start of the coronavirus outbreak.
Kering's fashion powerhouse Gucci plans to reopen prototype activities at one of its main Italian sites next week after reaching a deal with unions on health and safety measures for workers, it said on Saturday.
François-Henri Pinault, the French billionaire chairman and CEO of luxury goods group Kering <PRTP.PA>, has agreed to a pay cut in the latest example of top executives accepting lower salaries as a gesture of solidarity during the coronavirus crisis.
High-end fashion labels Saint Laurent and Balenciaga will start making face masks to ease shortages during the coronavirus crisis, their French parent group Kering said on Sunday.
* ON CORONAVIRUS: KERING ESTIMATES THAT ITS CONSOLIDATED REVENUE FOR THE FIRST QUARTER OF 2020, ENDING MARCH 31, SHOULD POST A DECLINE OF 13% TO 14% IN REPORTED TERMS (DOWN AROUND 15% IN COMPARABLE TERMS) VERSUS THE FIRST QUARTER OF 2019
Gucci and other luxury labels owned by France's Kering expect smaller crowds at their catwalk shows this month, with Chinese buyers and influencers set to miss the major marketing fixture.
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