Kering Group?s Decreased Sales Do Not Spell Trouble - fashion beauty deco Blogs

Kering Group?s Decreased Sales Do Not Spell Trouble

It's all good at the House of Gucci as The Kering Group sets sights on long-terms goals in stead of short-term returns.
The post Kering Group’s Decreased Sales Do Not Spell Trouble appeared first on LUXUO.

Let’s make one thing clear ? Kering Group’s four percent rate drop is not a red flag. Earlier this month it was announced that the luxury conglomerate saw a four percent year-over-year decrease at the end of 2023 as compared to 2022. It is only fair to point out that Kering is still making a profit but just not as much. Here’s why. In a bid to compete with the company’s primary luxury rival, LVMH Moët Hennessy Louis Vuitton, Kering has eyes on their long-term goals which will inevitably overcome their short-term shortfalls.
The B in Beauté 

Kering Beauté was established in 2023 to create value for the group and its Houses alongside ensuring that Bottega Veneta, Balenciaga, Alexander McQueen ? all of which are currently licensed to COTY ? as well as the jewellery brands Pomellato, and Qeelin reach their full potential in beauty, which is, as the Group puts it, a natural extension of their universe. By hiring long-time executive of Estée Lauder, Raffaella Cornaggia, as the new CEO of Kering Beauté, Kering aims to tap into Cornaggia’s extensive beauty resumé which includes time spent at Tom Ford Beauty, MAC Cosmetics, and L?Oréal. The risk paid off as in June 2023, Kering Beauté procured luxury fragrance ho...
Source: luxuo
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