French luxury conglomerate Kering scored a striking 27.1 percent growth in first quarter revenues, led by Gucci's near 40% explosion in sales. Problem child Bottega Veneta, however, suffered a further fall in revenues.
As Alibaba's founders announce their investment in Rent the Runway and Kering plans to test a new subscription system, the luxury industry is preparing to respond to a new consumption mode that heralds a revolution.
French luxury goods group Kering has complied with its tax obligations in Switzerland, it said on Friday, responding to newspaper reports alleging that the company used a Swiss-based scheme to evade taxes on earnings.
The question on everyone one’s mind entering the latest Stella McCartney show inside Paris’s legendary Opera was: Will the lady buy back the half of the company owned by her partners, French luxury group Kering?
China’s Fosun International won the bidding war for Lanvin against the Qataris this month for reasons that have little to do with money, creative vision or strategy for France’s oldest fashion maison, four sources said.