Kering

A possible change of CEO would, if confirmed, pile further pressure on the high-end business which reported a decline in revenues and profit last year.

Luca De Meo’s appointment as the French group’s chief executive is an admission of the seriousness of the crisis the company is facing, as well as a signal of its intent to do something about it, writes Imran Amed.

Even as demand for luxury goods stalls, Milanese jeweller Pomellato is gaining ground by appealing to self-purchasing women and expanding into high jewellery — a welcome win for Kering as it works to re-energise its portfolio.

The luxury industry is facing another lost year, according to Bain’s latest luxury update, but investors are being too gloomy on the sector’s long-term prospects, argues Andrea Felsted.

The Gucci and Saint Laurent owner is splitting its chairman and CEO roles, bringing in Luca de Meo, a turnaround expert who has revived multiple automotive brands, to support the Pinault family.

The French luxury giant is planning to shake up its leadership amid a share price slump, according to Le Figaro.

There’s no denying that the biggest luxury brands badly need a creative reboot. But while the designers who got the top jobs are more than qualified, the lack of female representation speaks to deficiencies in how the industry considers its talent pipeline, writes Imran Amed.

LVMH and Hermès stock fell about 3 percent and 4 percent respectively, in line with sector peers including Kering, Prada and Burberry, after the US president announced a 50 percent duty on imports from the European Union.

Kering has named the former Valentino designer known for his deft use of colour and sculptural couture to succeed Demna in an apparent reset at the Paris-based brand.

The Kering-owned fashion house is promoting its chief product officer as it prepares to open a new chapter under a new designer.