French luxury conglomerate whose brands include Gucci. Controlled by François-Henri Pinault, who serves as chairman. In 2024 it generated €2.6bn in operating profit from €17.2bn in revenue. Its market capitalisation stood at around €24bn in June 2025, having lost some €75bn in shareholder value since 2021, amid a possibly secular slowdown in China, whose consumers had been expected to fill luxury firms' coffers for years to come.
In June 2025 Kering named Luca de Meo, an Italian car executive, as its next chief executive, to start in September. His appointment instantly added €2.5bn to Kering's market value. Kering's main rivals are LVMH and Hermès; in 2025 Hermès overtook LVMH as the most richly valued luxury group. L'Oréal, the world's biggest beauty business, was buying Kering's beauty division as of mid-2025.
Kering jointly owns Valentino's fashion house with Qatari investors. The brand is worth around $6bn.
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