Shares of Kering plunged on Friday after the firm announced that Demna Gvasalia would take the reigns as new artistic director of its ailing Gucci fashion line.

Kering SA appointed Balenciaga designer Demna Gvasalia to oversee a makeover of its struggling Gucci fashion label, disappointing investors who had expected a high-profile external hire.

ROME (AP) — Gucci announced Thursday that the Balenciaga artistic director Demna, who goes by one name, will take over the creative direction of the Italian luxury fashion house, starting in July.

The Georgian creative will wrap up his tenure at Balenciaga with a couture show on July 9. His successor has yet to be named.

The markets seem to share this fear, as Kering’s shares fell 12% after the announcement, bringing them to a value of just over $27 billion. But I wouldn’t expect this. Though Demna fell in a rut at ...

Kering's (PPRUF) 2024 sales fell 12%, EBIT was down 46%, with a year-end net debt of €10.5 billion. Read why I remain neutral ...

He will be in charge of womenswear, menswear and accessories. Gucci and Balenciaga are owned by Kering, the French conglomerate that also owns Saint Laurent, McQueen, Brioni and Bottega Veneta.

Kering and Ardian announce today the closing of their investment transaction regarding a portfolio of three prime real estate assets in Paris, in line with the terms announced on January 15, 2025.

Starring Kyle MacLachlan as "The Villain," Rachel Sennott as "Her," Zhou You as the "Main Character," and more.

This weekend included many fashion-filled moments worth remembering. To begin, J.W. Anderson is leaving Loewe after 11 years ...

Luxury group Kering (Gucci, Saint Laurent) and investment firm Ardian have closed their investment transaction regarding a ...