Kering's star brand Gucci grew sales by 3.8% in the third quarter, missing analyst expectations, as the pace of recovery from the coronavirus pandemic slowed down sharply following a bumper second quarter.
The Swiss private equity firm, owner of Borsalino, has hired a new operating partner, Jérôme Macario, a corporate finance specialist who has worked at Kering, with the aim of investing in luxury brands.
The executive, who has two decades of experience in the sector, joins the Kering-owned luxury brand from Fendi, where she most recently served as VP for U.S. retail and retail corporate functions in the Americas.
As high-end resale becomes increasingly mainstream, trends in the segment are increasingly tracking those of the new-product luxury market and that has been underlined by data from a leading name in the resale category
French luxury group Kering, Richemont's Cartier, and the Responsible Jewellery Council have teamed up to set environmental targets for watches and jewellery activities, challenging the industry to commit to them too.