8legs: Kering capital markets day

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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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