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...However, none of Kering, Essilor or Safilo were willing to “overspend” on it, said three of the people....
...Shares in Paris-based Kering fell 14.3 per cent after the group warned that sales would probably decline in the first quarter due to a slowdown in Asia....
...Kering will report first-quarter sales at the end of April. Read more here...
...The Milan building is by no means Kering’s only new project....
...Shares in French luxury conglomerate Kering dropped 11.9 per cent after falling sales in Asia for its Gucci brand triggered a rare profit warning....
...Sales at French luxury group Kering fell in the fourth quarter as revenues at all of its major brands pared back, though the company said performance improved over the period in Europe and the US....
...Neither of François-Henri’s siblings are involved in day-to-day management at Kering, but they sit on the supervisory board at Artémis....
...Kering said on Thursday that the investment was part of a “selective real estate strategy, aimed at securing key highly desirable locations for its houses”....
...Collections from new Gucci designer Sabato De Sarno have yet to land in stores and so were not reflected in Kering’s results....
...“Kering is Gucci, and Gucci is Kering . . . The problem is there is a very big dependence and perhaps over-dependence on Gucci,” said a person close to the group....
...Sales at Gucci and Saint Laurent, Kering’s two biggest brands by sales, fell 14 and 16 per cent respectively....
...Look no further than Kering’s dramatic sales warning this week....
...Michele was hired by Paris-based Kering to design Gucci in 2015, rising to become a star in the fashion world....
...Rival Kering, which recently issued a rare profit warning on weak China sales at its biggest brand Gucci, rose briefly before flattening out....
...Shares in Kering were down 2.9 per cent in Paris trading on Wednesday morning at €395.55....
..., held on the industrial grounds of the Fonderia Carlo Macchi, drew as many stars (Kirsten Dunst, Julia Garner, Daisy Edgar-Jones and Hanni, to name a few) as De Sarno’s debut, which marked a reset for Kering...
...Share moves to note in Europe on Wednesday include high-end fashion group Kering, chemicals manufacturer Johnson Matthey, UK housebuilder Persimmon and computer services company Computercenter....
...Burton took the helm at McQueen in 2010, leading one of the smaller fashion houses owned by French luxury group Kering by revenues, but one that has won critical acclaim for its sharp tailoring and intricate...
...Kering trades at a discount to peers at about 17 times forward earnings, while LVMH trades at 23 times and Hermès at 49 times....
...Gucci owner Kering had the biggest one-day drop in the index with shares falling 11.9 per cent after the group issued a rare profit warning amid fears of a slowdown in Asia....
...Gucci’s slump in sales, with parent Kering’s warning this week of a slowdown in Asia, prompted investor concerns about demand for the wares of Europe’s luxury groups....
...The total price tag back then was about €200mn less than Kering has now paid for the single flagship property. Kering, alongside LVMH, is on a retail shopping spree....
...French stocks outperformed their peers in Europe on Thursday, as heavyweights in the luxury sector — including LVMH, Kering and Hermès — notched strong gains....
...Kering declined to comment. Neves did not respond to a request for comment....
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