Major events in the history of French fashion group KERING
(Reuters) – Kering, owner of Gucci, is reportedly approaching the appointment of Renault’s Ex-Boss Luca de Meo as new CEO.
Sources say current Kaeling Chief François Hen Lipineau controls the luxury conglomerate whose family has led the luxurious luxury conglomerate for 20 years, pondering the roles of CEO and chairman.
Below is a timeline of major events in the history of French luxury fashion groups.
1962 – François Pineau transforms Ettalisment Pineau, a Rennes-based wood trading company, into Kering.
March 1999 – The company, now known as PPR, will begin transforming into a luxurious group by acquiring a 42% stake in fashion group Gucci for around $3 billion.
July 2001 – This group purchases Balenciaga Fashion House. Balenciaga Fashion House will soon become a celebrity strategic brand within the PPR-owned Gucci group.
March 2005 – François Henry Pineau, the founder’s son, replaces Serge Weinberg as the group’s chairman and CEO, and begins selling non-core activities to fund further acquisitions in the fashion sector.
November 2011 – The group announced the acquisition of Italian luxury house Brioni, famous for its James Bond suit designs, to enhance its high-end menswear profile.
December 2012 – The conglomerate is the first to be acquired in China by purchasing a majority stake in luxury jewelry company Qeelin.
March 2013 – The company changes its name to Kering and announces an exit from Mass Market Retail Brands.
April 2013 – The company will take over Italian jewelry brands such as Pomerato and Dodo.
November 2022 – The group has confirmed the departure of Gucci’s creative director Alessandro Michele and has ended its more than 20 years of tenure over “different perspectives.”
July 2023 – Kering will buy a 30% stake in Italian fashion brand Valentino for 1.7 billion euros ($1.97 billion) to revitalize the struggling Gucci.
It also has a deal to buy Bel Creed, a luxury French fragrance label, reportedly paying 3.5 billion euros.
September 2023 – Gucci CEO Marco Bizari will leave the post in eight years. Kering reshuffles the top rank to restore star label momentum.
October 2024 – The company highlights major headwinds against Gucci’s profits, hampered by weak China’s demand.
February 2025 – Gucci Design Chief Sabato de Sarno leaves the label with less than two years of work, in order for the brand to attract wealthy shoppers and reverse sales weakness.
March 2025 – Kering will not reassure investors by appointing in-house talent Demna as Gucci’s artistic director, losing its $3 billion in stock value in a day.