Kering Targets Profit Growth as It Unveils Gucci Turnaround Plan
Kering outlined an ambitious plan to revive Gucci and double profits, aiming to restore growth after a prolonged slowdown in its flagship brand.
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Kering outlined an ambitious plan to revive Gucci and double profits, aiming to restore growth after a prolonged slowdown in its flagship brand.
Luxury stocks declined sharply after weak earnings from Hermès and Kering, as the Iran war weighed on Middle East demand and tourism.
Shares of Kering surged after the luxury group reported stronger-than-expected sales and unveiled a revival strategy under its new chief executive. Investors welcomed early signs of stabilization at Gucci, the company’s largest brand.