Kering: de Meo says Gucci’s recovery remains the top priority

Let’s step up our efforts for Balenciaga and Alexander McQueen

(Il Sole 24 Ore Radiocor) - Luca de Meo, CEO of Kering, commented that “third-quarter revenues reflect the timing we had anticipated, against a backdrop of a weaker macroeconomic environment”. For the executive, “Gucci’s recovery remains the top priority”. He also added: “We are working constantly to strengthen its appeal and accelerate product development”. Thanks to the complementary nature of the brand portfolio, Saint Laurent, Bottega Veneta and Brioni, as well as Kering Eyewear and Kering Jewellery, continue to consolidate their growth trajectory. De Meo went on to say: “We are also stepping up our efforts to revitalise Balenciaga and Alexander McQueen.” To fully realise the group’s potential, we need to revitalise Gucci, focus resolutely on product excellence, implement our action plan in China, fully capitalise on the benefits of the group platform, and embed an execution-oriented culture throughout the organisation.

“Kering’s transformation is a process that takes time, but the improvements we are seeing across the Group – particularly in terms of attractiveness and key operating indicators – reinforce our confidence in the direction we have taken and confirm our teams’ determination to achieve the objectives we have set.”

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