Kering S.A. PARYŻ Euronext: KER artykuły luksusowe m.in. Gucci, Yves Saint Laurent, Puma

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Luxury stocks including LVMH, Kering (PA:PRTP), Richemont and Burberry fell between 2.4% and 3.4%, tracking their Asian peers lower on concerns about the spread of COVID-19 cases in China.

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Francuski producent dóbr luksusowych Kering poinformował, że przestanie używać naturalnych futer do produkcji odzieży wszystkich swoich marek.

https://www.pb.pl/kering-rezygnuje-z-na ... er-1128504

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Kering, Cartier launch environmental pact for watches, jewellery

PARIS (Reuters) - French luxury group Kering (PA:PRTP), Richemont's Cartier, and the Responsible Jewellery Council have teamed up to set environmental targets for watches and jewellery activities, challenging labels in the industry to commit to them too.

The move comes amid heightened scrutiny of environmental issues among consumers, especially from the younger generations, key sources of future revenue growth for luxury labels.

Dubbed the "watch and jewellery initiative 2030", the goals include targets to reduce carbon emissions, protect biodiversity and adopt practices defined by the Responsible Jewellery Council, a standard-setting industry body, by the year 2030.

"We have proof that by being together you are much stronger and also much more powerful to reach these types of goals," said Jean-Francois Palus, managing director of Kering, which owns jewellery labels Boucheron and Pomellato and watch labels Ulysse Nardin and Girard-Perregaux.

Kering has already cast itself as an industry champion on the environmental front for the apparel industry. In 2019, its chairman, Francois-Henri Pinault, gathered dozens of international labels to sign the so-called Fashion Pact of commitments, including reducing emissions and plastic-use.

The partners in the watch-and-jewellery initiative intend to start recruiting European labels before moving on to those from other countries, Cartier Chief Executive Officer Cyrille Vigneron said, citing a list of large brands, including Tiffany.

"We think there will be quite a rather large number of key brands and then the smaller ones as well but also key suppliers, with distributors who will join the initiative," Vigneron said.

Highly profitable labels will likely be under pressure to sign up, he added.

LVMH, which bought Tiffany https://www.reuters.com/article/tiffany ... NKBN27E13L earlier this year, was absent from the Fashion Pact, which included high-end labels like France's Hermes as well as lower-end groups like Zara-owner Inditex (MC:ITX).

https://www.investing.com/news/stock-ma ... ry-2635851

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China-exposed luxury stocks including LVMH and Kering (PA:PRTP) fell about 2% each after Chinese President Xi Jinping's call to expand a consumption tax.

https://www.investing.com/news/stock-ma ... ta-2646313

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Kering tumbled 4.0% as sales growth at its star fashion brand Gucci missed analysts' expectations due to a sharp slowdown in its pace of recovery, particularly in Asia, from COVID-19.

PARIS (Reuters) - Shares in French luxury goods company Kering (PA:PRTP) fell sharply on Wednesday, after Kering's star fashion brand Gucci grew sales by just 3.8% in the third quarter, missing analyst expectations.

Kering's shares were down by 3.4 percent in early session trading, making it the worst-performing stock on France's benchmark CAC-40 index.

The fall in Kering also dragged down shares in its French rival LVMH, with LVMH shares falling 0.9 percent, while Hermes also fell 0.6 percent.

"Gucci growth was disappointing, with retail sales +2% on a 2-year basis, decelerating from Q2 (+11%), negatively impacted by increased pandemic restrictions in APAC and a lack of product newness," wrote JP Morgan in a research note.

Luxury goods groups have bounced back strongly from the fallout of the health emergency, lifted by pent-up demand for high-end wares as lockdowns ease across the world and consumers return to socialising.

However, shopping by travelling tourists - a key source of revenue for the sector - remains well below pre-pandemic levels.

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PARIS (Reuters) - Kering (PA:PRTP) will announce a new creative director to head Bottega Veneta, the French luxury group said on Wednesday, announcing the surprise departure of Daniel Lee just three and a half years into a mandate to ignite the Italian label’s popularity with younger generations.

In a statement, Kering said the decision was mutual, but provided no further details on a timeline for the designer's replacement.

The move comes as European luxury firms mark a strong sales recovery from the coronavirus crisis, with the industry's largest players, including Kering, moving past pre-pandemic levels.

"His (Lee's) singular vision made the house's heritage relevant for today and put it back to the center of the fashion scene," said Kering chairman and chief executive officer Francois Henri Pinault.

The 35-year-old Central Saint Martins graduate is credited with raising the profile of the brand known for woven leather products, with popular accessories including soft leather handbags and slip on mules.

Marking the return of in-person, celebrity-packed fashion events, Bottega Veneta took to Detroit last month to show Lee's spring 2022 collection.

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French luxury group Kering (PA:PRTP) was among the top gainers on the CAC 40, gaining 2.0% after its top brand Gucci said it expected 2021 revenues to be in line or higher than their pre-pandemic level. HSBC upgraded the stock to "buy".

PARIS (Reuters) - French luxury group Kering (PA:PRTP)'s top brand Gucci expects 2021 revenues to be in line or "a little higher" than their 2019, pre-pandemic level, the label's chief executive Marco Bizzarri said on Tuesday.

Gucci's sales totalled 9.63 billion euros ($10.9 billion) at the end of 2019.

Speaking at the Pambianco fashion conference in Milan, Bizzarri also said Gucci, which last year cut the number of its fashion shows, would resume presenting its collections at the Milan fashion week in February and September 2022, with an additional show to be held in late spring.

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PARIS (Reuters) – French luxury goods group Kering said it had agreed to sell its Swiss watch manufacturing brands Girard-Perregaux and Ulysse Nardin to the management teams that run the watchmakers.

https://www.fxempire.com/news/article/l ... ons-874942

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Kering bullish on Chinese domestic luxury consumption

PARIS (Reuters) – French luxury goods Kering sounded a positive note on its forecasts for its performance this year in China, even if the country’s consumers are not expected to resume travelling abroad for at least a year.

Group managing director Jean-Francois Palus told analysts on Thursday the company had deepened its presence in mainland China during the pandemic, notably through ecommerce on Alibaba’s Tmall platform as well as its own websites in the country.

The executive said he was optimistic about the health of Chinese consumption, noting a lot of new consumers beginning to buy luxury products, with “a good propensity to buy and to buy more.”

PARIS (Reuters) - French luxury group and Gucci owner Kering (PA:PRTP) is eyeing second- and third-tier cities for possible store expansion in the United States, where its sales are booming, Chairman and CEO Francois-Henri Pinault said on Thursday.

Pinault said the group was considering cities like Atlanta, Charlotte and Austin, adding there was room for the group to operate its own stores in places where it had previously sold through wholesale channels.

He said the quality of shopping malls was lacking for luxury players.

Kering chairman: acquisitions could make sense in the near future

PARIS (Reuters) – Kering’s boss said on Thursday acquisitions could make sense in the near future for the group, the strongest indication to date that the luxury giant could move further into M&A.

PARIS (Reuters) – Kering’s boss said on Thursday acquisitions could make sense in the near future for the group, the strongest indication to date that the luxury giant could move further into M&A.

“For sure, acquisitions could make sense in the near future for the group,” Kering chairman and CEO François-Henri Pinault told analysts in a conference call after results, adding the group’s balance sheet was very healthy.

https://www.fxempire.com/news/article/k ... ure-902053

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China-exposed luxury stocks such as LVMH, Kering (PA:PRTP) and Hermes dropped in the range of 1% and 2% as China faced its worst COVID-19 outbreak in two years.

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In corporate news, Kering (EPA:PRTP) stock fell over 5% after reporting slowing growth at the French luxury group’s star label Gucci, weighed by Covid lockdowns in mainland China.

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Kering aims to double Saint Laurent sales in medium term

PARIS (Reuters) -French luxury group Kering (EPA:PRTP) aims to double sales at its smaller, fast-growing fashion brand Yves Saint Laurent to 5 billion euros ($5.36 billion) in the medium term, it said in slides after the first day of an investor presentation on Wednesday.

Analysts said the target would likely prompt an increase in consensus estimates, with Citigroup (NYSE:C) noting it could be reached in 2026 or the following year, while current consensus expectations are for 3.9 billion euros in sales in 2026.

"The Saint Laurent story should strengthen Kering's investment case, although Gucci's contribution remains disproportionate," said Citigroup analysts.

The French luxury group is due to hold a presentation on its main label and profit engine, Gucci, which accounts for over half of group sales, on Thursday.

Gucci sales totalled 9.73 billion in 2021 and the brand is under market scrutiny as it has suffered more than rivals during a recent round of lockdowns in China.

Kering said it would expand Saint Laurent's geographic footprint, and make a deeper push into the United States, for example, as it increases the number of stores worldwide to between 300 and 350 in the medium term from 267 in March.

Product-wise, the label, headed by chief executive officer Francesca Bellettini, flagged its focus on leather goods, which make up the bulk of sales, while highlighting the importance of ready-to-wear for relaying the brand's image, and shoes as a "second growth engine".

The group is increasing production capacity internally, with plans to open a new leather goods production site in Tuscany next year after expanding a shoe-making site in the Veneto region last year.

Saint Laurent posted revenue of 2.52 billion euros in 2021, up 46% from a year earlier, twice the amount in 2016.

The group also targets higher profitability for the label in the medium term, with an EBIT margin seen rising to 33% from 28.3% at the end of last year.

While highlighting a "robust" track record and "particularly hot" brand momentum, analysts at JP Morgan said they wondered if the targets might take longer to reach than previous ones set five years ago, citing plans to increase the amount of sales per square meter in stores while also focusing on product categories that tend to generate lower store productivity.

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investing.com - Kering (EPA:PRTP) reported on Wednesday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.

Kering announced earnings per share of €16.07 on revenue of €4.97B. Analysts polled by Investing.com anticipated EPS of €13.61 on revenue of €4.79B.

Kering shares are down 26% from the beginning of the year, still down 33.83% from its 52 week high of €798.00 set on August 13, 2021. They are under-performing the STOXX 600 which is down 12.23% from the start of the year.

Kering follows other major Consumer Discretionary sector earnings this month
Kering's report follows an earnings beat by Louis Vuitton on Tuesday, who reported EPS of €12.99 on revenue of €18.73B, compared to forecasts EPS of €11.44 on revenue of €17.59B.

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PARIS (Reuters) -Sales at French luxury group Kering (EPA:PRTP)'s top brand Gucci rose by just 4% in the second quarter, the group said on Wednesday, as a new round of lockdowns weighed on revenues in the key Chinese market.

Overall sales for Kering, which is also home to fast-growing labels Saint Laurent and Bottega Veneta, came in at 4.97 billion euros ($5.03 billion), up 12% on a comparable basis.

The figure was above market expectations for revenues of 4.44 billion euros according to a Visible Alpha consensus cited by UBS.

Gucci's 4% growth in the three months to June compared with a 19% rise over the same period for sales at LVMH's fashion and leather goods division, led by the Louis Vuitton and Dior brands. It also marked a slowdown from 13% growth for Gucci sales in the first quarter of the year.

Luxury groups have tapped strong post-pandemic demand for designer labels as socialising resumes and shoppers spend savings accumulated during the pandemic, brushing off concerns about volatile stock markets and rising prices.

After years of stellar growth Gucci, which accounts for more than half Kering's revenue and the bulk of its profit, has suffered more than some rivals in recent quarters as it is more exposed to the Chinese market and to international tourist flows, which have not returned to normal.

The group's finance chief, Jean-Marc Duplaix, told reporters it had seen an improvement in China in June as movement restrictions were gradually lifted, and pointed to new collections and price increases helping Gucci's sales, particularly in Europe and the United States.

"The Chinese market was impacted by measures to fight COVID, of course, even if June began to show some improvement as these measures eased up," Duplaix said, adding that as much as 35% of Gucci's stores in the country were closed in April and May.

The group is working to reinforce its Gucci management teams in China and is maintaining investments like store openings in the country, he said.

Kering continues to consider the Chinese market "absolutely key" with growth potential that remains "intact in the long run," he added.

Higher marketing expenses to support the label meant its operating margin declined to 36.5% in the quarter, compared with more than 41% for LVMH's fashion brands.

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PARIS (Reuters) - Shares in Gucci-owner Kering (EPA:PRTP) rose in early Friday trading following a report the French luxury goods company is in advanced talks to buy U.S.-based fashion label Tom Ford.

Shares were up 2.4% in morning trade, after the Wall Street Journal on Thursday reported the company was the front runner for a deal, with rivals including Estee Lauder (NYSE:EL).

Kering has been the focus of persistent M&A speculation, with the recent underperformance of its star label Gucci - which accounts for the bulk of group profits - putting it under market scrutiny after years of stellar growth.

"The logic is compelling," said Piral Dadhania of RBC, of such a deal, citing Tom Ford's past as creative director of Kering labels Gucci and Yves Saint Laurent in the nineties, as well as the label's high positioning.

The French group has complementary expertise to further develop the label's offer in womenswear and leather goods, added Dadhania.