The Kering Luxury Group, still overwhelmed by the difficulties of its flagship brand, Gucci, announced, on Tuesday, July 29, a 46% drop in its net profits in the first half, which passes under 500 million euros, while the new general director Luca de Meo must take office in mid -September.
Kering’s billing, owner of Yves Saint Laurent, Bottega Veneta or Balenciaga, falling 16% in the semester to 7.6 billion euros.
“If the published results are still well below our potential, we are convinced that the efforts made for two years have allowed solid bases for the next stages of Kering development,” said CEO François-Henri Pinault quoted in the press release.
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Source: BFM TV
