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Luxury Giant Kering to Chart Path for Gucci Turnaround
- On Thursday, Chief Executive Luca de Meo presented Kering's 'ReconKering' strategic roadmap in Florence, aiming to revive growth for the flagging Gucci label amid years of underperformance.
- Gucci sales declined 14% to €1.35 billion in the first quarter of 2026, hit by shrinking demand in China and a cautious consumer environment due to the Middle East conflict.
- Kering plans to close at least 100 stores this year and targets doubling its recurring operating margin to at least 22% in the medium term to improve profitability.
- Analysts at Paris-based ODDO BHF noted the group's trajectory is moving right, yet "Gucci's turnaround is not yet reflected in the numbers," signaling skepticism on timing.
- The roadmap unfolds across three phases: structural reset by end-2026, rebuild phase by 2028, and reclaiming leadership as the reference player in Next Luxury by 2030.
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For the turnaround at the luxury company Kering, Chef Luca de Meo now relies entirely on the world-famous label Gucci. How can this be achieved?
·Vienna, Austria
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InsideNoVA.com+5 Reposted by 5 other sources
Luxury group Kering seeks to make flagging Gucci 'unmissable' again
French luxury group Kering promised Thursday to make its flagship Gucci brand once again "unmissable" and boost production of leather goods as it seeks to turn around its financial performance.
The turnover of the Gucci parent company has recently suffered. On a capital market day, the head of the Group promises its investors higher profits.
·Düsseldorf, Germany
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Total News Sources47
Leaning Left2Leaning Right6Center15Last UpdatedBias Distribution65% Center
Bias Distribution
- 65% of the sources are Center
65% Center
C 65%
R 26%
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