Kering
This coverage focuses on Kering’s strategic direction and performance within the UK retail sector. Reporting includes brand developments, financial results, leadership changes, and market trends — all analysed for their impact on luxury retail operations and market positioning. The content is tailored for retail executives, brand managers, and professionals overseeing operations in the premium and luxury retail segments.
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Oct- 2024 -9 OctoberNews-In-Brief
Today’s news in brief-9/10/24
Shein’s UK arm reported robust financial results for 2023, with revenues climbing 38% to £1.55bn and pre-tax profits doubling to £24.4m. These figures surpass rival Boohoo’s latest annual revenues. The company also announced plans for an IPO in London, pending regulatory approval, to capitalise on its growth momentum and expand…
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9 OctoberLuxury Goods
Gucci appoints new CEO
Kering has announced that Stefano Cantino has been appointed as the new CEO of Gucci, replacing Jean-François Palus, from 1 January 2025. He will report to Francesca Bellettini, deputy CEO of Kering in charge of brand development and will have a seat on Kering’s executive committee. Cantino joined Gucci in…
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Sep- 2024 -5 September
Today’s news in brief-5/9/24
Asos has sold a majority stake in Topshop and Topman to Heartland, a move valued at £135m. Heartland, owned by Bestseller, will acquire a 75% stake while Asos retains 25%. The deal includes rights for Asos to continue marketing the brands online under a new joint venture, aiming to streamline…
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5 SeptemberClothing & Shoes
Dior appoints Miu Miu CEO as managing director
LVMH-owned Christine Dior has announced the appointment of Miu Miu CEO Benedetta Petruzzo to the executive committee as managing director, effective 15 October 2024. Petruzzo will officially replace current managing director Charles Delapalme and will report to Delphine Arnault, chairman and chief executive officer of Christian Dior Couture. In her…
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Jul- 2024 -22 JulyDepartment Stores
Saudi wealth fund looks to up Selfridges stake to 50%
Saudi Arabia’s Public Investment Fund has reportedly made an offer to raise its stake in Selfridges from 10% to 50%, according to documents seen by Bloomberg News.The move comes after the department store’s co-owner Signa fell into insolvency earlier this year. The PIF currently owns a 10% share in the…
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Apr- 2024 -26 AprilNews
Today’s news in brief-26/4/24
The Office for National Statistics (ONS) has reported a significant rise in shoplifting offences in England and Wales, reaching over 430,000 cases for the year ending December 2023—an increase of more than a third compared to the previous year. This marks the highest level in two decades. The ONS suggests…
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26 AprilLuxury Goods
Burberry faces takeover threat after share drop
Burberry is at risk of takeover after losing a fifth of its value since the start of the year, The Telegraph has reported. A profit warning from rival luxury brand Kering, which owns Gucci, Bottega Veneta and YSL among others, triggered a dip in Burberry shares on Wednesday (24 April).…
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24 AprilNews
Today’s news in brief-24/4/24
Bérangère Michel, the executive director of finance for the John Lewis Partnership, is resigning after 16 years with the company. She is leaving to explore new career opportunities, having played a vital role in enhancing the business’s financial performance. Her departure prompts a recruitment process for her replacement, expected to…
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24 AprilLuxury Goods
Kering revenues dip 11% to €4.5bn in Q1
Kering’s revenues were down 11% to €4.5bn (£3.8bn) for the first quarter of 2024 as Gucci, Yves Saint Laurent and Bottega Veneta failed to perform positively. The group’s revenue from the directly operated retail network fell 11% on a comparable basis, as a result of lower store traffic. During the…
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22 AprilNews
Today’s news in brief-22/4/24
Investors from the Middle East and China are eyeing Selfridges following Signa’s financial struggles, leading to restructuring and insolvency. Central Group, a co-owner, is seeking to buy out Signa’s stake, with potential partnerships being explored with sovereign wealth funds and tycoons. Notable entities like Saudi Arabia’s Public Investment Fund and…
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