On Breakingviews: Star Gucci designer Alessandro Michele’s departure boosts Kering’s M&A urgency, writes LJucca
Finding the right target will not be easy. Many fashion brands are too small to move the needle, like Tod’s
. Or they are controlled by founders unwilling to sell, like Prada . And there is always the risk that 350 billion euro LVMH may outbid Pinault. The fact Kering’s stock now trades at a lowly 16 times forward earnings, a discount to LVMH’s 24, doesn’t help. Pinault’s greater need of a deal, meanwhile, risks making potential sellers more likely to drive a hard bargain.Kering’s top brand Gucci said on Nov. 23 Creative Director Alessandro Michele had stepped down.
Kering, a 68 billion euro conglomerate which also owns brands such as Bottega Veneta and Yves Saint Laurent, derived half of its 17.7 billion euros revenue and three-quarters of its operating profit from Gucci in 2021.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
It's Official: Alessandro Michele to Depart GucciHe has served as the brand's creative director since 2015.
Les mer »
Gucci Shake-Up: Alessandro Michele Steps Down as Creative Director“There are times when paths part ways because of the different perspectives each one of us may have,' says the designer, who has been the fashion head of the luxury brand since 2015.
Les mer »
Alessandro Michele steps down as Gucci creative directorAlessandro Michele is leaving his role as creative director of the Gucci, the fashion house announced Wednesday, bringing an end to an eight-year tenure that sharply redefined Gucci’s codes with romanticism and gender-fluidity, all the while powering revenues for the Kering parent.
Les mer »
Alessandro Michele Leaving As Creative Director Of The Gucci Fashion HouseAlessandro Michele, whose high-profile fashion clients include Jared Leto, Billie Eilish, Florence Welch, rockers Måneskin, and singer Harry Styles, is leaving the house of Gucci as creative direct…
Les mer »
Gucci creative director Alessandro Michele steps downAlessandro Michele has stepped down as Gucci's creative director after almost eight years, a period that saw him help revive and transform the Italian label's fortunes.
Les mer »
Gucci Confirms Alessandro Michele ExitGucci and parent company Kering have confirmed that Alessandro Michele is exiting the brand.
Les mer »