Close Menu
Buzz NewsBuzz News
    Facebook X (Twitter) Instagram
    Trending
    • Gold price prediction today: Where is gold rate headed in the near future what levels will it hit? Here’s the outlook
    • HDB Financial Services listing: Shares make strong market debut at 12.84% premium; open at Rs 835 on BSE, NSE
    • Stock market today: Nifty50 opens in green; BSE Sensex up over 200 points
    • Markets watch: Asian stocks slip; oil steady ahead of OPEC+ meet
    • Top stocks to buy today: Stock recommendations for July 2, 2025 – check list
    • Government allows cab aggregators to hike peak-hour surge prices
    • Air India Boeing 787 crash: What brought down AI 171 plane in Ahmedabad? Simulation puts focus on technical failure
    • IndiGo direct flights to UK: Airline makes long-haul debut on Mumbai–Manchester route; check schedule
    • IPO watch: Hero Motors refiles IPO papers with Rs 1,200 crore issue, ups fresh component to Rs 800 crore
    • Who is Kesavan Ramachandran? RBI elevates internal veteran to executive director, to oversee prudential regulation
    Buzz NewsBuzz News
    Wednesday, July 2
    • Home
    • Cryptocurrency
    • Investment Tips
    • Finance
    • Home Insurance
    • Market News
    • Life Insurance
    Buzz NewsBuzz News
    Home»Investment Tips»From cars to couture: Kering appoints Renault’s Luca De Meo to lead Gucci; French high-fashion brand hopes for revival
    Investment Tips

    From cars to couture: Kering appoints Renault’s Luca De Meo to lead Gucci; French high-fashion brand hopes for revival

    BuzzNewsBy BuzzNewsJune 16, 2025No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    From cars to couture: Kering appoints Renault’s Luca De Meo to lead Gucci; French high-fashion brand hopes for revival
    Share
    Facebook Twitter LinkedIn Pinterest Email Telegram WhatsApp Copy Link

    From cars to couture: Kering appoints Renault’s Luca De Meo to lead Gucci; French high-fashion brand hopes for revival

    French high end fashion group Kering appointed Luca de Meo, the man behind rescuing carmaker Renault from crisis, as its new chief executive to steer the company’s struggling flagship brand Gucci back on course.De Meo, 58, will officially take over in September, after shareholders approve of a new governance structure that separates the roles of chairman and CEO. Francois-Henri Pinault, whose family controls Kering’s largest shareholder, will stay on as board chairman.Kering, which owns Gucci, Yves Saint Laurent, Balenciaga and Bottega Veneta, described the appointment as “a decisive step in the evolution of Kering’s governance and strengthens the Group’s leadership as it enters a new phase of its development.”Kering’s shares surged nearly 12% on reports of de Meo’s imminent arrival, although the company only confirmed the news after the Paris exchange closed. In contrast, Renault shares dropped 8.7% on Sunday following the announcement that de Meo would step down on 15 July to “take on new challenges outside the automobile sector.”Luca de Meo is known for turning struggling companies around. He joined Renault in 2020 after the Carlos Ghosn scandal and helped steady the business. He pushed for electric vehicles and focused on more premium models. As a result, Renault avoided the slump that affected rivals and is now aiming for an operating margin of over 7% this year.Kering is counting on de Meo to deliver a similar turnaround at Gucci, which has lost its edge in recent years. Once the group’s main driver of growth, the brand’s slump played a major role in Kering’s 12% drop in revenue to 17.2 billion euros in 2023, while net profit plunged by 64% to 1.1 billion euros. Over the year, Gucci’s own sales fell 23%.In February, Gucci parted ways with creative director Sabato De Sarno after a lacklustre two-year stint. In March, the group named Balenciaga’s Demna Gvasalia as chief designer for Gucci, part of a wider leadership reshuffle that also included appointments at Saint Laurent and Bottega Veneta.Analysts are cautiously optimistic about de Meo’s appointment. Bernstein noted that “Kering shares have lost 28 percent since the beginning of the year and 78 percent since its peak in mid-2021, a drop largely due to the drop in its leading brand Gucci.”

    appoints brand cars couture French Gucci highfashion hopes Kering lead Luca Meo Renaults revival
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleRBI’s new regulation? Issues draft norms on Rupee interest rate derivatives; allows non-resident to undertake transactions
    Next Article Odisha mega projects: State approves Rs 1.51 lakh crore industrial push; over 62,000 jobs on the horizon
    BuzzNews
    • Website

    Related Posts

    Gold price prediction today: Where is gold rate headed in the near future what levels will it hit? Here’s the outlook

    July 2, 2025

    HDB Financial Services listing: Shares make strong market debut at 12.84% premium; open at Rs 835 on BSE, NSE

    July 2, 2025

    Stock market today: Nifty50 opens in green; BSE Sensex up over 200 points

    July 2, 2025

    Leave A Reply Cancel Reply

    Recent Posts

    Gold price prediction today: Where is gold rate headed in the near future what levels will it hit? Here’s the outlook

    July 2, 2025

    HDB Financial Services listing: Shares make strong market debut at 12.84% premium; open at Rs 835 on BSE, NSE

    July 2, 2025

    Stock market today: Nifty50 opens in green; BSE Sensex up over 200 points

    July 2, 2025

    Markets watch: Asian stocks slip; oil steady ahead of OPEC+ meet

    July 2, 2025

    Top stocks to buy today: Stock recommendations for July 2, 2025 – check list

    July 2, 2025
    Our Picks

    Bitcoin Remains Above $60,000, Bittensor Becomes Top Gainer

    August 23, 2024

    Prospects For Cryptocurrency Development In South Asia

    August 23, 2024

    Trump announces The DeFiant Ones, a new cryptocurrency platform

    August 23, 2024

    Hackers use McDonald’s Instagram account to steal $700,000 in cryptocurrency scam

    August 22, 2024
    About

    Welcome to BuzzNews, your go-to source for the latest in insurance and finance news. Our mission is to provide you with accurate, timely, and insightful information to help you make informed decisions. From life insurance to personal finance, market news to investment tips, we cover a wide range of topics to keep you updated and knowledgeable.

    Popular Posts

    Gold price prediction today: Where is gold rate headed in the near future what levels will it hit? Here’s the outlook

    July 2, 2025

    HDB Financial Services listing: Shares make strong market debut at 12.84% premium; open at Rs 835 on BSE, NSE

    July 2, 2025

    Stock market today: Nifty50 opens in green; BSE Sensex up over 200 points

    July 2, 2025
    OUR CATEGOIRES
    • Cryptocurrency
    • Finance
    • Health Insurance
    • Home Insurance
    • Investment Tips
    • Life Insurance
    • Market News
    Copyright © 2024. BuzzNews. All Rights Reserved.
    • Sitemap
    • DMCA
    • Terms and Conditions
    • Privacy Policy
    • Contact Us
    • About Us

    Type above and press Enter to search. Press Esc to cancel.