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business7h ago
ReconKering: Luca de Meo’s Big Turnaround Plan Is Here
- Kering unveiled ReconKering, a five-hub turnaround plan to reposition the group as a challenger in luxury.
- Luca de Meo presented the plan to about 200 analysts and reporters at Capital Markets Day in Florence.
- The strategy establishes a streamlined platform with five hubs focused on industry, client, technology, sustainability, and support.
- Gucci is the group’s largest brand, and de Meo aims to reclaim its top desirability with a simplified SKU strategy.
- The plan targets new growth in China and prioritizes 130 net store closures by 2030 to rightsize the footprint.
- House of Wonders will back adjacent brands and Icicle to diversify growth outside the core brands.
- Kering sold its beauty business to L’Oréal, forming a joint venture to explore beauty and longevity opportunities.
- Kering plans to double jewelry and related categories by 2030, led by Boucheron, Pomellato, DoDo, and Qeelin.
- Luca de Meo announced a higher marketing and commercial activation budget for China to boost awareness and conversion.
- The plan emphasizes a disciplined approach to store counts, with a goal to maximize efficiency and brand coherence.
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