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RARE PHOTOS: 5 | Rare Historical Photos

Gucci Owner Kering Profits Slump In 'Trying Year'

French luxury giant Kering on Thursday reported a drop in 2023 earnings but vowed to press on with its investment strategy to put flagship brand Gucci "back on track".

International Business Times

Luxury slowdown will continue into 2024, Gucci owner Kering says

Sales of expensive clothes, shoes and handbags have come crashing back to earth after an initial post-pandemic boom

Evening Standard

Gucci Owner Kering Says Profit Fell 17% In 2023

Kering, whose other houses include Yves Saint Laurent, Balenciaga and Bottega Veneta, reported a 17 percent drop in net profit to 2.98 billion euros ($3.2 billion).

Latin Times

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Blokecore, The Waste Land and Maggie Smith: the year in fashion

In 2023 there have been highs, lows, brilliance and misfires – and that’s just the clothes. We take a look back at the catwalks, inspiration and snacks that have been in-demand

The Guardian - UK

LVMH and Kering felt the pinch in 2023—but a new type of luxury is gaining a share of consumers' wallets

“What we’ve observed in 2023 is a rebalancing of customer appetite," Bain expert says of the luxury industry.

Fortune

Fashion Power 100 revealed: the hottest industry style players ranked

From designer heavyweights to industry titans and trending ingenues, the Standard has ranked the style world’s most significant figures of 2023 from one to 100

Evening Standard

Male, pale and out of step: why fashion houses have such a problem with diversity

While privileged white men continue to dominate the industry, women and minorities are finding it harder to make their mark. Here’s what must be done…

The Guardian - UK

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Gucci design staff strike in protest at plan to relocate to Milan

About 50 workers take part in action, claiming move from Rome would be tantamount to collective dismissal

The Guardian - UK

Burberry joins LVMH and Gucci in the luxury slump as brand says it may miss its revenue target for the year

Burberry's half-year sales inched up just a little, pointing to a luxury downturn that its rivals like LVMH and Kering have been experiencing.

Fortune

Luxury shoppers are buying less Balenciaga and Gucci, in latest signs of an end to the ‘roaring 20s’

Economic pressures have added to the list of challenges faced by the luxury giant behind Gucci and Yves Saint Laurent.

Fortune

The AI revolution is coming. Invest in $10,000 handbags

Analysis shows LVMH, Dior, Hermès and Gucci owner Kering have consistently outperformed Amazon, Google and Apple

The Guardian - UK

Alexander McQueen designates Seán McGirr as new creative director

Irish-born, London-based successor to Sarah Burton continues pattern of brands promoting or poaching talent

The Guardian - UK

The next Alexander McQueen creative director named as Seán McGirr

The former head of ready-to-wear at JW Anderson will be Sarah Burton’s successor, company owner Kering has announced

Evening Standard

Sarah Burton to leave Alexander McQueen fashion house after two decades

The brand’s creative director shot to international fame for creating the Princess of Wales’s wedding dress

The Guardian - UK

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The Independent UK

Sarah Burton, who designed Kate's royal wedding dress, to step down from Alexander McQueen

The fashion designer who created the wedding dress of Kate Middleton, Princess of Wales, is stepping down as creative director at Alexander McQueen after two decades at the brand, luxury group Kering said

Fortune

Brad Pitt, Reese Witherspoon, and Steven Spielberg have a new rep as French billionaire buys CAA, one of Hollywood’s biggest talent agencies

Francois-Henri Pinault's holding company, Artémis, will hold about a 53% stake in the talent agency that works with numerous A-listers.

The Guardian - UK

Versace’s new owner wants to be a big beast. But it’s no match for Europe’s behemoths

Tapestry’s purchase of three big fashion names gives it heft. But LVMH and Kering have the front row to themselves

The Independent UK

Coach parent Tapestry buying Capri, owner of Michael Kors and Versace, in $8.5 billion deal

Tapestry, parent company of luxury handbag and accessories retailer Coach, is buying the owner of fashion brands including Michael Kors, Versace and Jimmy Choo, Capri Holdings

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The Independent UK

French luxury group Kering to buy 30% stake in Valentino for 1.7 billion euros cash

French luxury conglomerate Kering has reached a cash deal to purchase a 30% stake in Italian fashion house Valentino for 1.7 billion euros from a Qatari investment firm

The Guardian - US

‘You need the glamour of a big opening’: US actors’ strike starts to bite on red carpet

Blockbusters such as Barbie have weathered the absence of Hollywood stars from promotion – but behind-the-scenes workers are worried

The Independent UK

Gucci's CEO is stepping down as its French parent shakes up leadership

The president and CEO of Gucci is stepping down later this year

Woman & Home

Salma Hayek's tie-dye look combines style and comfort as she cozies up to an unlikely pal

Salma Hayek's tie-dye dress is far from her red carpet glam and we're totally here for it!

Daily Mirror

Rosie Huntington-Whiteley wows in glam gown alongside husband Jason Statham at Cannes

Rosie Huntington-Whiteley stunned as she attended the Women in Motion Awards at the Cannes Film Festival alongside her actor husband Jason Statham

Marie Claire

In Order to Revolutionize Fashion, Prioritize Innovation

"We must remain optimistic."

Financial Times

Will the extraordinary boom in luxury goods ever end?

The rise of LVMH to become Europe’s first $500bn company illustrates the sector’s seemingly unstoppable growth

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