Kering 1H 2017 results: consolidated revenue: €7,296.2 million, up 28.2% as reported, 26.5% on a comparable basis

London, 2017-Jul-31 — /EPR Retail News/ — First-half consolidated revenue: €7,296.2 million, up 28.2% as reported, 26.5% on a comparable basis

Luxury activities: up 29.7% as reported, 28.3% on a comparable basis Sport & Lifestyle activities: up 16.1% as reported, 14.3% on a comparable basis

Recurring operating income: €1,274.1 million, up 57.1% Sharp rise in operating margin: 17.5% Net income, Group share: up 77.6%

“Thanks to the execution of our strategy, we achieved outstanding revenue growth in the first half, clearly outperforming the sector, and delivered record profits and operating margins. These remarkable performances in all regions of the world and across all of our activities underscore Kering’s ability to innovate, create value, and gain market share. Our vision of Luxury, grounded in creative audacity and in the sincerity of our brands’ values, is more relevant than ever. This excellent first half raises our confidence in the Group’s capacity to realize another year of growth and improved operating performances.” François-Henri Pinault, Chairman and Chief Executive Officer

Record half-year performance
• Second-quarter comparable consolidated growth of 24.6% extending the strong momentum of the first quarter, up 28.6% comparable
• Significant improvement in operating margin, up 330 basis points on a comparable basis
• Two-fold increase in free cash flow from operations in the first six months, to €717.9 million

Luxury: remarkable growth in revenue and earnings 
• Sustained growth momentum at Gucci and Saint Laurent, both in revenue (up 43.4% and 28.5%, respectively, on a comparable basis) and recurring operating margin (32.0% and 23.0%, respectively)
• Solid six-month performance from Bottega Veneta, with comparable revenue up 2.0%
• Other Luxury brands up 10.1% comparable; acceleration at Balenciaga
• Recurring operating income up 49.4% to €1,254.2 million

Sport & Lifestyle: robust growth 
• Half-year revenue above the €2 billion mark for the first time ever
• Sharp growth at Puma (up 15.7% comparable) across all product categories and regions, coupled with a two-fold increase in recurring operating income
• Sport & Lifestyle recurring operating income up 128.7% to €110.0 million

Key financial indicators

Revenue for the first half of 2017 amounted to €7,296.2 million, up a sharp 28.2% as reported and 26.5% based on a comparable Group structure and exchange rates. This performance was driven by extremely strong sales growth in both mature and emerging markets, with comparable increases of 33.5% in Western Europe and 34.4% in Asia Pacific (32% and 28% of consolidated revenue, respectively). North America (21% of revenue) also posted a robust 20.7% increase in comparable revenue, while Japan (9% of revenue) continued on its growth trajectory, up 6.4%. Kering Eyewear contributed €162 million to consolidated revenue during the period, after eliminating intra-group sales and royalties paid to the brands.

Kering’s gross margin for the first half of 2017 stood at €4,725 million, up 31.2% as reported.

The Group’s recurring operating income surged 57.1% as reported to €1,274.1 million during the period. Consolidated recurring operating margin came in at 17.5%, up 330 basis points. By activity, recurring operating margin was 24.9% in Luxury and 5.3% in Sport & Lifestyle.

EBITDA(1) totalled €1,526.0 million in the first half of 2017, up 51.0% compared with the prior-year period. The EBITDA margin rose by 310 basis points on a reported basis to 20.9% in the first half of 2017.

Net income, Group share totalled €825.8 million in the first six months of 2017, up from €464.9 million in the same period of 2016. Adjusted for non-recurring items net of tax, net income from continuing operations, Group share rose 67.4% year on year to €872.3 million. Earnings per share amounted to €6.55 in the first half of 2017, up 77.5% compared with the prior-year period.

(1)EBITDA corresponds to recurring operating income plus net recurring charges to depreciation, amortisation and provisions on non-current operating assets. See figures in the consolidated financial statements in the 2017 First-Half Report.

About Kering
A global Luxury group, Kering develops an ensemble of luxury houses in fashion, leather goods, jewelry and watches: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, Pomellato, Qeelin and Ulysse Nardin. Kering is also developing the Sport & Lifestyle brands Puma, Volcom and Cobra. By ‘empowering imagination’, Kering encourages its brands to reach their potential, in the most sustainable manner. The Group generated revenue of €12.385 billion in 2016 and had more than 40,000 employees at year end. The Kering share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).

Contacts:
Press:
Emilie Gargatte
+33 (0)1 45 64 61 20
emilie.gargatte@kering.com

Astrid Wernert
+33 (0)1 45 64 61 57
astrid.wernert@kering.com

Analysts/investors:
Claire Roblet
+33 (0)1 45 64 61 49
claire.roblet@kering.com

www.kering.com
Twitter: @KeringGroup
LinkedIn: Kering 
Instagram: @kering_official
YouTube: KeringGroup

Source: Kering

Brioni welcomes Nina-Maria Nitsche as its new Creative Director

London, 2017-Jun-19 — /EPR Retail News/ — Brioni and Kering are pleased to announce the appointment of Nina-Maria Nitsche as Creative Director of the House, effective 15 June 2017. Nina-Maria Nitsche will have creative responsibility of the House’s collections and image.

Nina-Maria Nitsche joined Maison Martin Margiela in 1989. For the following 23 years, she worked closely with the designer on the creative vision of the House. After the designer’s resignation, in 2009, Nina-Maria Nitsche took over the creative direction of Maison Martin Margiela.

Nitsche’s long experience and global creative perspective will enable her to reinforce the clarity of Brioni’s identity, emphasise its sartorial values and reinstate its pioneering heritage.

Brioni CEO Fabrizio Malverdi stated: “I am very pleased to welcome Nina-Maria Nitsche to the House of Brioni. Ever since I met her in 1996, I have been impressed by her creative approach, starting from a clearly defined concept and then transforming that into products that accurately resonate with the customer. Her point of view will allow the brand’s core values to prosper and yet inject a contemporary dialogue that will enable Brioni to evolve into the future.”

Nina-Maria Nitsche declared: “I am honored to collaborate with the House of Brioni. Thanks to its long sartorial history, Brioni has the potential to redefine its position as a unique luxury brand. The House’s philosophy is based on a pioneering approach to menswear. My aim is to reinforce and invigorate this longstanding tradition.”

François-Henri Pinault, Chairman and CEO of Kering, added: “I am delighted to welcome Nina-Maria Nitsche to Brioni and within Kering. Nina-Maria has a very accurate understanding of the Brioni man and she will bring a comprehensive and articulate creative vision to the House. I am sure that, together with Fabrizio Malverdi, she will build on the House’s tradition of exceptional craftsmanship to propel Brioni into a new dynamic.”

About Brioni
Founded in Rome in 1945, Brioni is recognized as the world’s most prestigious menswear couture house.

Under the leadership of CEO Fabrizio Malverdi, Brioni develops and manufactures sartorial ready-to-wear, leather goods, shoes, eyewear, and fragrances. The foundation of the company’s identity is the Bespoke service, entirely custom made garments with an unparalleled level of craftsmanship. Brioni products are distributed globally through directly-owned boutiques and a network of selected department & specialty stores. The company is part of the global Luxury group Kering, which develops an ensemble of luxury houses in fashion, leather goods, jewellery and watches, as well as sport & lifestyle brands.

About Kering
A global Luxury group, Kering develops an ensemble of luxury houses in fashion, leather goods, jewellery and watches: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, Pomellato, Qeelin and Ulysse Nardin. Kering is also developing the Sport & Lifestyle brands Puma, Volcom and Cobra. By ‘empowering imagination’, Kering encourages its brands to reach their potential, in the most sustainable manner.

The Group generated revenue of €12.385 billion in 2016 and had more than 40,000 employees at year end. The Kering share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).

Press Contacts:

Kering
Emilie Gargatte
+33 (0)1 45 64 61 20
emilie.gargatte@kering.com

Renato Martinelli
+33 (0)1 45 64 66 00
renato.martinelli@kering.com

Astrid Wernert
+33 (0)1 45 64 61 57
astrid.wernert@kering.com

Brioni Press Office
+39  02   76 26 071
press.office@it.brioni.com

Analysts/investors
Claire Roblet
+33 (0)1 45 64 61 49
claire.roblet@kering.com

www.kering.com
www.brioni.com
Twitter: @KeringGroup / @Brioni_Official
LinkedIn: Kering / Brioni
Instagram: @kering_official / @Brioni_Official
YouTube: KeringGroup

Source: Kering Group

Kering achieved record performance in 1Q 2017

London, 2017-Apr-26 — /EPR Retail News/ —  “Kering achieved a record performance in the first three months of the year, posting a sharp acceleration in sales growth.  Benefitting from somewhat more favorable market conditions, our strong delivery primarily stems from meticulous execution of our strategy and the creative audacity of our Houses. In a climate of persistent geopolitical and macroeconomic uncertainties, our first quarter puts us in a particularly good position for the balance of the year.  The Group will continue to focus on organic growth and market share gains, on value creation and ongoing operational and financial discipline.” François-Henri Pinault, Chairman and Chief Executive Officer

Sharp acceleration in growth across the Group
• First-quarter 2017 revenue totalling €3,573.5 million
• Major sequential increase driven by double-digit growth across all activities and all geographic regions excluding Japan

Luxury activities: all Houses delivering remarkable performances
• Record growth at Gucci, whose creative universe is drawing ever increasing enthusiasm
• Sustained growth trajectory for Yves Saint Laurent
• Positive trends at Bottega Veneta and in the Other Luxury brands; marked sales acceleration at Balenciaga

Sport & Lifestyle activities: excellent start to the year
• Puma revenue up 17.9% year on year as reported and 15.3% on a comparable basis; all product categories contributing to the brand’s ongoing growth momentum

LUXURY ACTIVITIES: EXCELLENT PERFORMANCES
Revenue generated by Luxury activities totalled €2,417.1 million in the first quarter of 2017, up by a sharp 34.0% as reported and 31.6% on a comparable basis, against a favourable base of comparison.

Sales growth in the Group’s directly operated store network was particularly high, at 36.6% on a comparable basis, driven by remarkable performances in Western Europe and the Asia Pacific region, which reported retail sales increases on a comparable basis of 49.9% and 46.7%, respectively.  Growth in retail sales was also significant in North America and the Rest of the world, up 29.7% and 28.1%, respectively, on a comparable basis. Online sales leapt 60.1% on a comparable basis, underscoring the success of the digital strategies implemented by Kering’s Luxury Houses.

Wholesale revenue climbed 20.2% on a comparable basis.

Gucci – Outstanding growth performance

The particularly remarkable growth reported by Gucci in the first quarter of 2017 demonstrates the resounding success of the brand’s creative reinvention and the exceptional skill with which its strategy has been implemented. Revenue shot up by 51.4% as reported and 48.3% on a comparable basis, with all regions and product categories contributing to the overall rise.

Sales in directly operated stores were up 51.4% on a comparable basis, with especially sharp increases in Western Europe (up 66.4% on a comparable basis) and the Asia Pacific region (up 63.1% on a comparable basis).

Gucci’s collections once again proved extremely popular during the period, with double-digit growth for all product categories and ever-increasing demand for Ready-to-Wear and Shoes. Leather Goods also experienced excellent momentum, reflecting Gucci’s talent in creating iconic models and successfully renewing them season after season.

Bottega Veneta – Improving trends

Bottega Veneta’s revenue was up 4.7% as reported and 2.3% on a comparable basis, marking an upturn for the brand against a backdrop of more favourable market conditions.

Western Europe, Asia Pacific, and the Rest of the World experienced positive momentum, fuelled by sales to both returning and new customers. Overall, sales in directly operated stores climbed 3.6% year on year on a comparable basis.

Shoes, especially Women’s models, remained in high demand.

Yves Saint Laurent – Sustained robust growth

Yves Saint Laurent delivered another excellent performance in the first quarter, with revenue up 35.4% as reported and 33.4% on a comparable basis. Directly operated stores saw further double-digit sales growth in all geographic regions except Japan, with particularly sharp increases in Western Europe (up 46.0% on a comparable basis) and Asia Pacific (up 48.1% on a comparable basis). Online sales also posted further growth, driven by Western Europe and North America.

The Summer collection – fully designed by Anthony Vaccarello and available in stores since January 2017 – has been extremely well received. A number of products rapidly rose to best-seller status, notably in Women’s Shoes and Ready-to-Wear.

Other Luxury brands – Double-digit growth for both Couture & Leather Goods and Watches & Jewellery 

Revenue from the Group’s Other Luxury brands was up 12.3% as reported and 11.1% on a comparable basis, with all distribution channels contributing to the overall growth.

Couture & Leather Goods Maisons posted an aggregate revenue rise of 11.1% on a comparable basis, powered by an excellent showing from Balenciaga’s directly operated store network across all geographic regions and all product categories, confirming the success of Demna Gvasalia’s collections. Stella McCartney and Alexander McQueen achieved further growth in the period, while Brioni’s sales in directly operated stores trended upwards again.

Revenue from Watches & Jewellery Houses climbed 13.1% on a comparable basis, with good performances at Boucheron and Pomellato, demonstrating their innovative flair through new collections, reworked iconic lines and 360-degree marketing campaigns. The Group’s watch manufacturers also fared well in the first quarter. Girard-Perregaux and Ulysse Nardin joined the exhibitors at the Salon International de la Haute Horlogerie (SIHH) in January 2017, where they successfully unveiled several new models.

SPORT & LIFESTYLE ACTIVITIES: VERY GOOD PERFORMANCES FROM PUMA

Revenue generated by Sport & Lifestyle activities advanced 16.5% year on year as reported and 14.0% on a comparable basis, fuelled by an excellent performance from Puma, which reported record quarterly revenue of €1,008.9 million. All geographic regions except Japan registered double-digit sales growth and Footwear was the leading product category, with sales up by a significant 24.8% on a comparable basis.

Conversely, Volcom’s sales continued to be weighed down by the difficulties experienced by specialist distributors in the US, despite a solid showing from the directly operated store network.

“Corporate and other”: consolidation of Kering Eyewear sales

For the first time, Kering Eyewear – whose operation of the Gucci license for sunglasses and frames has been effective since January 2017 – is accounted for under “Corporate and other”. Kering Eyewear’s total sales, before elimination of intra-group sales and royalties received by the brands, amounted to €112.9 million in the first quarter. Net revenue for the period totalled €85.5 million.

SIGNIFICANT EVENTS SINCE JANUARY 1, 2017 

Brioni: Appointment of Fabrizio Malverdi

On March 17, 2017, Kering announced the appointment of Fabrizio Malverdi as CEO of Brioni. Reporting to Jean François Palus, Kering’s Group managing director, his mission is to accelerate the international expansion of one of the most prestigious houses in the high-end menswear market, which follows in the long tradition of Italian tailors.

Kering Eyewear

On March 21, 2017, Kering announced that its subsidiary, Kering Eyewear, and Cartier, owned by Compagnie Financière Richemont, had signed a strategic partnership agreement aimed at combining their operations in order to create a powerful platform for the development, manufacture and worldwide distribution of the Cartier eyewear collection. This project is subject to clearance by the relevant competition authorities.

Bond issue 

On March 28, 2017, Kering carried out a €300 million issue of ten-year bonds with a fixed-rate coupon of 1.50%.

Renovation of Boucheron’s flagship store on Place Vendôme 

On March 30, 2017, Kering announced that renovation will begin at Boucheron’s iconic flagship store at 26, Place Vendôme in Paris. The project aims to showcase the architecture and original volumes of the building, as Boucheron’s 160th anniversary draws near.

SUSTAINABILITY INITIATIVES

Launch of the 2025 sustainability strategy

On January 25, 2017, Kering launched its new sustainability strategy for 2025. Its targets are divided into three themes

– Environment: CARE for the planet, which includes initiatives by which Kering aims to reduce its Environmental Profit and Loss (EP&L) account by at least 40%, and carbon emissions from its activities by 50%, among others.

– Social welfare: COLLABORATE with people, which comprises the Group’s social ambitions.

– Innovation: CREATE new business models, which primarily involves investing in disruptive innovations that can transform conventional processes in luxury, and influence the industry.

 About Kering

A global Luxury group, Kering develops an ensemble of luxury houses in fashion, leather goods, jewellery and watches: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, Pomellato, Qeelin and Ulysse Nardin. Kering is also developing the Sport & Lifestyle brands Puma, Volcom and Cobra. By ‘empowering imagination’, Kering encourages its brands to reach their potential, in the most sustainable manner.

The Group generated revenue of €12.385 billion in 2016 and had more than 40,000 employees at year end. The Kering share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).

Press Conntact:
Emilie Gargatte
+33 (0)1 45 64 61 20
emilie.gargatte@kering.com

Astrid Wernert
+33 (0)1 45 64 61 57
astrid.wernert@kering.com

Analysts/investors
Claire Roblet
+33 (0)1 45 64 61 49
claire.roblet@kering.com

Andrea Beneventi
+33 (0)1 45 64 63 28
andrea.beneventi@kering.com

www.kering.com
Twitter: @KeringGroup
LinkedIn: Kering
Instagram: @kering_official 
YouTube: KeringGroup

Source: Keing Group

Kering names Isabelle Huppert as the 2017 face of Women in Motion

London, 2017-Apr-13 — /EPR Retail News/ — Kering, official partner to the Festival de Cannes, has chosen Isabelle Huppert as the 2017 face of Women in Motion.

 For 3 years, Women in Motion has shone a spotlight on women’s contribution to cinema through a series of discussions between major figures from the film world and two Awards in celebration of talented women in film.

To mark the 70th anniversary of the Cannes International Film Festival, to be held from 17 to 28 May 2017, Kering, an official partner to the Festival has chosen a portrait of Isabelle Huppert for the official poster of the third annual Women in Motion programme. Her penetrating gaze dominates the photograph, which draws on the aesthetics of the silver screen in vibrant homage to the power of women in cinema.

A leading actress universally acclaimed for her filmography featuring the world’s greatest directors, Isabelle Huppert is an iconic figure in film, and in particular at the Festival de Cannes, where she was president of the Jury in 2009, and where she has been awarded the Best Actress Prize on two separate occasions. Her career, like the roles she plays, is a genuine source of inspiration for the public.

Launched in 2015, Women in Motion endeavours to focus our attention on the crucial role of women in film, and to the importance of continuing to fight for greater equality and access to opportunities for talented young women.

Throughout the Festival, a series of Talks, open to both journalists and film professionals, will enable major industry figures to compare and contrast experiences and views on women’s contribution to film, and to share their recommendations for greater representation within the sector.

The 2016 discussions, which featured Jodie Foster, Juliette Binoche, Susan Sarandon, Geena Davis, Chloë Sevigny, Houda Benyamina, Alice Winocour and Salma Hayek Pinault, focused on a variety of questions, including the problem of financing for films directed by women or about women, inequalities in salary and the lack of representation of women and their work on screen.

Kering and the Festival de Cannes will also be awarding the Women in Motion Awards to two talented film industry figures at the official event dinner on Sunday, 21 May 2017. The first will go to an emblematic figure in film, whose career inspires others and embodies the programme’s values, while the Young Talents Award will be awarded to a promising rising film industry professional chosen by the first prize-winner. Worth €50,000, it will help support one or several of the winner’s film projects.

At last year’s event, the Women in Motion Awards went to Geena Davis and Susan Sarandon, reunited to celebrate the 25th anniversary of the cult film Thelma & Louise, and to three young directors: Leyla Bouzid, Gaya Jiji and Ida Panahandeh.

‘As is still the case in far too many walks of life, women are under-represented and disadvantaged in the film world, despite their priceless contribution to everything that makes cinema what it is. Promoting gender equality lies at the heart of Kering’s priorities, which is why I am proud to be involved in this fight, alongside the Festival de Cannes. For three years now, Women in Motion has been a leading forum in changing mindsets, celebrating the most extraordinary figures in our industry and offering practical support to talented women.’

François-Henri Pinault, Chairman and CEO of Kering

‘I am delighted to have joined forces with Kering to showcase the value of women and their role in film. This is a cause that deserves all our attention, and it is crucial to raise awareness among the many festival-goers who visit Cannes each year. Through Women in Motion, we look forward, at the 70th Festival de Cannes, to being able to continue to strive for greater female representation in the film world.’

Pierre Lescure, President of the Festival de Cannes

‘Once again this year, the Women in Motion programme will form a key part of the Festival de Cannes. We are delighted that an initiative designed to highlight the contribution of women can flourish at the Festival and increase in visibility with every passing year. It is vital to give everyone a chance to express their views on the subject, share concrete examples of inequality and suggest ways of fighting them.’

Thierry Frémaux, General Delegate of the Festival de Cannes

About Women in Motion
Women in Motion sets out to showcase the contribution of women to the film industry, whether in front of the camera or behind it. Launched in 2015 by Kering, in partnership with the Festival de Cannes, Women in Motion is an integral part of the Festival’s official programme. The initiative is based on two pillars: Talks open to journalists and industry professionals which give major figures the opportunity to compare and contrast their experiences and viewpoints around the question of women’s contribution to cinema, and to pool their recommendations for greater representation within the industry. The two Women in Motion Awards are awarded each year to an inspiring figure who embodies the programme’s values, and to a young film industry professional, who receives funding support for cinematographic projects.

About Kering
A global Luxury group, Kering develops an ensemble of luxury houses in fashion, leather goods, jewellery and watches: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, Pomellato, Qeelin and Ulysse Nardin. Kering is also developing the Sport & Lifestyle brands Puma, Volcom and Cobra. By ‘empowering imagination’, Kering encourages its brands to reach their potential, in the most sustainable manner.

The Group generated revenue of €12.385 billion in 2016 and had more than 40,000 employees at year end. The Kering share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).

More information
Official videos and high resolution photographs
available on the Women in Motion pressroom

Follow the official hashtags:
#WomenInMotion #Cannes2017 #Kering

Press contacts:
Emilie Gargatte
+33 (0)1 45 64 61 20
emilie.gargatte@kering.com

Renato Martinelli
+33 (0)1 45 64 66 00
renato.martinelli@kering.com

Astrid Wernert
+33 (0)1 45 64 61 57
astrid.wernert@kering.com

Laurent Boyé
+1 310 220 7239
laurent@jazopr.com

www.womeninmotion.com
Twitter: @KeringGroup
Instagram: @kering_official
YouTube: KeringGroup<
LinkedIn: Kering
www.kering.com

Source: Kering

Kering announces next phase of its sustainability strategy across its luxury brands

  • Kering defines a new, sustainable luxury that operates within the “planetary boundaries”
  • Kering sets ambitious 2025 Targets and key milestones to meet over this period
  • Kering’s strategy aligned with UN Sustainable Development Goals and includes science-based Targets

London, 2017-Jan-26 — /EPR Retail News/ — Kering announced the next phase of its sustainability strategy across its luxury brands today (25 January 2017). With a 360° approach within its own operations and across the entire supply chain over 10 years, Kering is dedicated to continue to reduce its environmental impacts, advocate social welfare inside and outside the Group, and create innovative, game-changing platforms. In doing so, Kering will support the drive towards a low-carbon economy and help shape the future of luxury as sustainable and to operate within the “planetary boundaries” [1].

Kering has already made significant sustainability improvements across its business since committing to become a sustainable Group and is outperforming the luxury sector in reducing its footprint. Furthermore, Kering’s environmental impacts are less than 45% of the global average business based on comparative turnover [2]. Following on from its progressive 2016 Sustainability Targets, Kering has stepped up its sustainability ambitions. Kering has built on the Group’s successes and leveraged the lessons learned along the way in order to evolve these original Targets. As such, the next phase of its sustainability strategy further aligns with its business priorities now and in the future. During a year-long exploratory process, the elaboration of the strategy was a joint effort between Kering, the CEOs of its luxury brands, the brands’ creative directors and their teams, to ensure input of operational relevance and to further integrate sustainability into all brand functions and categories.

“More than ever, I am convinced that sustainability can redefine business value and drive future growth. As business leaders, we all have a crucial role to play and I worked with the CEOs of our luxury Maisons to embed sustainability across our activities while developing this next important phase of our sustainability strategy,” said François-Henri Pinault, chairman and CEO of Kering, “Our strategy outlines how we will redesign our business to continue to thrive and prosper sustainably into the future, while at the same time helping to transform the luxury sector and contributing to meet the significant social and environmental challenges of our generation.”

Underpinning Kering’s vision is the recognition that a company can only become truly sustainable if it goes far beyond the conventional limits of its own direct operations to address the environmental and social impacts across the supply chain. Consequently, the scope of the strategy incorporates the entire supply chain and with a view to embedding sustainability at the very beginning of the design process. Guided by the UN Sustainable Development Goals (SDGs), Kering has also included quantifiable 2025 Targets in the strategy, under the three themes of CARE, COLLABORATE and CREATE.

Further, key milestones will be aimed at during this period in order to ensure that effective progress is being made. Highlights include:

CARE for the planet:

• Use resources within the “planetary boundaries” with a science-based approach in order to reduce carbon emissions from Kering’s business activities by 50% in Scope 1, 2 and 3 [3] of the GHG protocol by 2025.
• Further address all supply chain environmental impacts with a goal to reduce Kering’s Environmental Profit and Loss (EP&L) [4] account by at least 40%, including the remaining carbon emissions [5] and going beyond to also include water use, water and air pollution, waste production and land use changes.
• Create a “Supplier Index of Sustainability” and ensure Kering’s high standards for raw materials and processes are implemented by suppliers at 100% by 2025, which also raises the bar on traceability, animal welfare, chemical use and social welfare.
• Promote sustainable design and minimize the environmental impact of a product at every stage, from sourcing and manufacturing to transportation and consumer use, and create an open-sourced tool to assess products based on Kering’s standards.
• Establish a Materials Innovation Lab (MIL) focused on watches and jewellery, following the success of Kering’s MIL for fabrics and textiles in offering access to sustainable alternatives.
• Expand offsetting commitment to include a new ‘insetting’ approach in order to ensure that actions across the supply chain deliver climate benefits as well as social value.

COLLABORATE with people:

• Support the continuation of craftsmanship traditions and the communities that support them.
• Extend focus across the supply chain and improve community livelihoods where raw materials are sourced.
• Develop an industry-leading performance metric system that will measure achievement of the UN Sustainable Development Goals.
• Leverage current partnerships with leading universities and continue to develop collaborations to identify sustainability solutions.
• Amplify forward-thinking employment practices, including the global parental policy launched on 1 January, a well-being at work policy by 2018, and an employee benefits policy by 2020.
• Achieve gender parity at all levels.
• Aim to be the preferred employer in the luxury sector.

CREATE new business models:

• Invest in disruptive innovations that can transform conventional processes in luxury, and influence the industry.
• Develop new and sustainable solutions for sourcing raw materials, including exploring biotech and promoting a circular economy through turning recycled textiles into new clothing.
• Scale up an internal purchasing platform to have access to high quality, sustainable raw materials.
• Stimulate and enable innovation to translate vision into action through internal governance.
• Establish a Young Leaders Advisory Group for inspired ideas.

“Rethinking luxury is a necessity to adapt to our changing world while responding to the concerns of new generations of luxury clients. We have already made significant improvements over the last years and we will continue to strive for the highest environmental and social standards,” said Marie-Claire Daveu, Chief Sustainability Officer and Head of international institutional affairs of Kering, “It is through catalysing innovation that we will be able to go beyond incremental improvements and implement the transformational changes that are necessary to be truly sustainable in our business and as an industry.  We will continue to open-source our solutions and approaches to support the scaling up of sustainability in the luxury sector, while sharing every 3 years the progress we have made.”

About Kering
A global Luxury group, Kering develops an ensemble of luxury houses in fashion, leather goods, jewellery and watches: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, Pomellato, Qeelin and Ulysse Nardin. Kering is also developing the Sport & Lifestyle brands Puma, Volcom and Cobra. By ‘empowering imagination’, Kering encourages its brands to reach their potential, in the most sustainable manner.

The Group generated revenues of more than €11.5 billion in 2015 and had more than 38,000 employees at year end. The Kering share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).

[1] Planetary Boundaries is the central concept in an Earth system framework proposed by a group of scientists led by the Stockholm Resilience Centre in 2009. The group proposed a framework of 9 “planetary boundaries” designed to define a “safe operating space for humanity” for the international community, including governments at all levels, international organizations, civil society, the scientific community and the private sector, as a precondition for sustainable development

[2] Refer to May 2015 press release on 2013 Group EP&L results: http://www.kering.com/en/press-releases/kering_open-sources_environmenta…

[3] Emissions from upstream transportation and distribution, business air travel and fuel and energy related emissions in Scope 3

[4] An EP&L analyses the total environmental impacts in a company’s own operations, and across its entire supply chain and then estimates the monetary cost to society of the changes in the environment resulting from these activities

[5] All Scope 3 emissions from purchased goods and services all the way back to raw materials at Tier 4

Press contacts:
Emmanuelle Picard-Deyme
emmanuelle.picard-deyme@kering.com
+33 1 45 64 61 87

Emilie Gargatte
emilie.gargatte@kering.com
+33 1 45 64 61 20

Website
www.kering.com

Social media:
Twitter: @KeringGroup
LinkedIn: Kering
Instagram: @kering_official
YouTube: KeringGroup 

Source: Kering

Kering enhances its parental policy for all its employees globally

London, 2016-Dec-15 — /EPR Retail News/ — With effect from 1 January 2017, Kering’s parental policy will allow all the Group’s employees, whatever their personal circumstances or location, a minimum of 14 weeks on full pay for maternity and adoption leave and a minimum of five days on full pay for paternity or partner leave.

The luxury Group is thus demonstrating its commitment to professional equality and work-life balance.

From 1 January 2017, Kering’s parental policy will provide a new framework across the Group and its Maisons for more than 38,500 employees, in close to 60 countries.

Every Kering employee with more than a year’s seniority, regardless of their personal circumstances or location, will be entitled to 14 weeks on full pay for maternity and adoption leave, and five days on full pay for paternity and partner leave.

By setting a global minimum standard for maternity and adoption leave, paternity leave and partner leave, Kering is taking an important step forward for the benefit of all its employees. In many countries, aligning adoption leave with maternity leave (14 weeks), whatever the parents’ legal status represents great progress, as does the introduction of five days’ leave for the partner of the mother or adopting parent.

In countries where local legislation provides more favourable parental leave benefits, this will be applied in place of Kering’s parental policy.

The Group’s new parental policy aims to foster a better work-life balance and to promote gender equality, regardless of employees’ personal circumstances, by guaranteeing the same minimum benefits on the birth or adoption of a child, to all Group employees worldwide.

Kering’s managers and human resources teams will be actively involved in implementing this new policy by providing parents with specific support before and after their leave, to ensure that they return to work in the best possible conditions, and benefit from a smooth career progression in the long term.

François-Henri Pinault, chairman and CEO of Kering, commented: “Since our employees are at the core of our business and our inspiration, I am proud to launch a policy that represents a major step forward for parenthood in many parts of the world. This initiative, which is particularly close to my heart, reflects our enduring commitment to promoting equality between men and women throughout their careers, whatever their personal circumstances.”

Béatrice Lazat, Kering’s senior vice president of human resources, added: “This ambitious policy will enable employees of the Group and its companies in almost 60 countries to benefit from a standard framework that promotes a healthy work-life balance. By guaranteeing the same minimum benefits to everyone, we are developing a more sustainable and harmonious working environment and contributing to a shared corporate culture within the Group, which is a source of pride and well-being.”

Press kit available on request

About Kering
A global Luxury group, Kering develops an ensemble of luxury houses in fashion, leather goods, jewellery and watches: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, Pomellato, Qeelin and Ulysse Nardin. Kering is also developing the Sport & Lifestyle brands Puma, Volcom and Cobra. By ‘empowering imagination’, Kering encourages its brands to reach their potential, in the most sustainable manner.

The Group generated revenues of more than €11.5 billion in 2015 and had more than 38,000 employees at year end. The Kering share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).

Press contacts:
Emilie Gargatte
emilie.gargatte@kering.com
+33 (0)1 45 64 61 20

Astrid Wernert
astrid.wernert@kering.com
+33 (0)1 45 64 61 57

Website
www.kering.com

Social media
Twitter: @KeringGroup
LinkedIn: Kering
Instagram: @kering_official
YouTube: KeringGroup 

Source: Kering

Kering Foundation hosted a special screening of award-winning film Sonita as part of its annual White Ribbon for Women campaign

As part of its annual White Ribbon for Women campaign, to break the silence on violence against women, the Kering Foundation welcomed over 200 personalities from the film, luxury and fashion industries and women’s rights organizations to a special screening of the award-winning film Sonita at BAFTA.

London, 2016-Nov-23 — /EPR Retail News/ — On Monday 21 November, François-Henri Pinault, Salma Hayek Pinault and Stella McCartney welcomed over 200 guests to a special screening of award-winning Sonita at BAFTA in London. The screening was part of the Kering Foundation’s annual White Ribbon for Womencampaign, running from 18 to 27 November 2016 to break the silence on violence against women.

Sonita, directed by Iranian Rokhsareh Ghaemmaghami and distributed by Wave Films, recounts the true story of 14-year-old undocumented refugee and women’s rights activist Sonita Alizadeh. Tracing her journey from Afghanistan to her newfound home in the US, the film sheds light on the reality of forced marriage through the eyes of a young girl who dreams of becoming a famous rapper despite her family’s predefined plan for her future – to sell her into marriage. The film notably won the Grand Jury Prize and Audience Award at the 2016 Sundance Festival.

Among some 200 personalities present at the screening were prominent figures from the film, music and fashion industries such as the film’s director Rokhsareh Ghaemmaghami, Bianca Jagger, Eva Herzigová, Fares & Tania Fares, Bel Powley, James McCartney, Lucie de la Falaise and Tiphaine de Lussy. Representing the artistic directors and top management of Kering’s Maisons were Sarah Burton, Creative director of Alexander McQueen, Emmanuel Gintzburger, CEO of Alexander McQueen and Frederick Lukoff, CEO of Stella McCartney.

In parallel to the screening, this year’s White Ribbon for Women campaign hosted online via #BeHerVoice, features well-known male ambassadors including the French footballer Antoine Griezmann, American surfer and founder of menswear brand Outerknown Kelly Slater, and Chinese actor Yang Yang, who have lent their voices to the Kering Foundation’s campaign, to highlight the fact that violence against women is not just a women’s issue. A series of portraits diffused online between 18 and 25 November see the ambassadors recount the true stories of women who have experienced violence and subsequently received support from the Kering Foundation.

About Kering
A global Luxury group, Kering develops an ensemble of luxury houses in fashion, leather goods, jewellery and watches: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, Pomellato, Qeelin and Ulysse Nardin. Kering is also developing the Sport & Lifestyle brands Puma, Volcom and Cobra. By ‘empowering imagination’, Kering encourages its brands to reach their potential, in the most sustainable manner.
The Group generated revenues of more than €11.5 billion in 2015 and had more than 38,000 employees at year end. The Kering share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).

About the Kering Foundation
Launched in 2009, the Kering Corporate Foundation combats Violence Against Women. To enhance its global impact, the Foundation focuses on one cause in each of the following three regions:
–   Sexual Violence in the Americas
–  Harmful Traditional Practices in Western Europe (France, Italy, United-Kingdom)
–  Domestic Violence in Asia
The Kering Foundation supports NGOs’ projects, social entrepreneurs and awareness campaigns while involving the Group’s 38,000 employees.

Press contacts:
Emer Hallahan
emer.hallahan@kering.com
+33 (0)1 45 64 63 70

Astrid Wernert
astrid.wernert@kering.com
+33 (0)1 45 64 61 57

Source: Kering

The Kering Foundation hosts its annual White Ribbon for Women campaign to combat violence against women

London, 2016-Nov-20 — /EPR Retail News/ — The Kering Foundation will host its 5th annual White Ribbon for Women campaign to combat violence against women from 18 to 27 November. This year well-known male ambassadors including French footballer Antoine Griezmann, the American surfer and founder of menswear brand Outerknown Kelly Slater, and Chinese actor Yang Yang will lend their voices to the Kering Foundation’s campaign, to highlight the fact that violence against women is not just a women’s issue. A series of portraits will see the ambassadors recount the true stories of women who have experienced violence and subsequently received support from the Kering Foundation. As part of the White Ribbon for Women’s digital campaign, the portraits will notably be diffused online via the hashtag #BeHerVoice to encourage everyone to break the silence on violence against women.

In tandem, and to mark the 5th edition of White Ribbon for Women, the Kering Foundation will also launch a crowdfunding platform  via #BeHerVoice. From 18 to 27 November users will be able to support a cause of their choice, from a selection of projects run by the Kering Foundation’s partner NGOs to empower women who have experienced violence. Funds raised will go directly to the Kering Foundation’s partner NGOs including It’s On Us in America, HER Fund in Asia, and Fédération Nationale Solidarité Femmes, La Maison des Femmes, Rosa UK and Women’s Aid in Europe.

An in-store campaign run in parallel will also see 230,000 White Ribbon for Women brooches and stickers, designed by Kering Foundation board member Stella McCartney, distributed in over 800 boutiques across 51 countries to customers of Kering luxury brands: Gucci, Alexander McQueen, Balenciaga, Brioni, Stella McCartney, McQ, Boucheron, Qeelin, Pomellato and Dodo.

The White Ribbon for Women campaign was launched by the Kering Foundation in 2012, with board member Stella McCartney designing an exclusive White Ribbon for Women brooch. From its origins the White Ribbon movement is a male-led initiative started by a group of Canadian men in 1991 following the Montreal Massacre, where a male student of École Polytechnique University massacred 14 of his female classmates telling them “you have no right being here (in education).” The movement encourages the promotion of gender equality and a new vision of masculinity in order to bring about a cultural shift to a future without violence against women. Since 1999, the 25 November is recognised by the United Nation’s as the International Day for the Elimination of Violence against Women, with a White Ribbon as its symbol.

François-Henri Pinault, President of the Kering Foundation, and Chairman and CEO of Keringcommented: “At the Kering Foundation we are working alongside non-profits and governments to combat violence against women, but the real challenge is in changing societal behaviors and beliefs. When one considers that 1 in 3 women worldwide experience violence, it is clear that this issue touches us all be it as a society, a corporation or citizen; be it as a man or a woman. With our White Ribbon for Women campaign we hope to break the taboo on this epidemic, by encouraging everyone to join the combat and raise their voices alongside our ambassadors.”

FROM 18 TO 27 NOVEMBER
FOLLOW THE CAMPAIGN ON SOCIAL MEDIA WITH #BeHerVoice
OR ACCESS THE WHITE RIBBON FOR WOMEN CROWDFUNDING PAGE HERE

HIGH-RESOLUTION IMAGES AND VIDEO FILES AVAILABLE ON REQUEST.

About Kering
A global Luxury group, Kering develops an ensemble of luxury houses in fashion, leather goods, jewellery and watches: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, Pomellato, Qeelin and Ulysse Nardin. Kering is also developing the Sport & Lifestyle brands Puma, Volcom and Cobra. By ‘empowering imagination’, Kering encourages its brands to reach their potential, in the most sustainable manner.

The Group generated revenues of more than €11.5 billion in 2015 and had more than 38,000 employees at year end. The Kering share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).

About the Kering Foundation 
Launched in 2009, the Kering Corporate Foundation combats Violence Against Women. To enhance its global impact, the Foundation focuses on one cause in each of the following three regions:
⁻ Sexual Violence in the Americas
⁻ Harmful Traditional Practices in Western Europe (France, Italy, United-Kingdom)
⁻ Domestic Violence in Asia

The Kering Foundation supports NGOs’ projects, social entrepreneurs and awareness campaigns while involving the Group’s 38,000 employees.

Press contacts:

Emer Hallahan
emer.hallahan@kering.com
+33 1 45 64 63 07

Astrid Wernert
astrid.wernert@kering.com
+33 1 45 64 61 57

Websites
www.keringfoundation.org
www.kering.com 

Social Media
Twitter: @KeringForWomen @KeringGroup
Instagram: @kering_official
Facebook: Kering Group
LinkedIn: Kering

Source: Kering

Kering announces the appointment of Claus-Dietrich Lahrs as CEO of Bottega Veneta

London, 2016-Sep-30 — /EPR Retail News/ — Kering announces the appointment of Claus-Dietrich Lahrs as CEO of Bottega Veneta, effective 4 October 2016. He will replace Carlo Alberto Beretta, who is appointed Kering chief client and marketing officer. Claus-Dietrich Lahrs will report directly to François-Henri Pinault and will be a member of the Group’s executive committee.

Claus-Dietrich Lahrs was previously CEO of Hugo Boss, until February 2016 and has held several top-level positions in prestigious luxury brands, such as Cartier, Louis Vuitton and Christian Dior Couture. In his role as CEO of Bottega Veneta, his mission will be to pursue the global development of one of the world’s most prestigious brands, and to continue building on its reputation for excellence.

François-Henri Pinault, chairman and CEO of Kering, commented: “We are delighted to welcome Claus-Dietrich Lahrs to Bottega Veneta and to Kering. His outstanding experience and extensive knowledge of the luxury market will be crucial in the management of the exceptional maison that Bottega Veneta is. I am confident he will build on what has been accomplished so far within the house and accelerate its development.”

About Claus-Dietrich Lahrs
Claus-Dietrich Lahrs, a German citizen, began his career in 1990 as project manager for marketing and sales at Delton AG for several firms in the fashion sector. He then joined Cartier in 1992, taking on management positions in retail and marketing in Germany and Northern Europe. In 1997, he was appointed general manager of Louis Vuitton, Loewe and Céline at LVMH Germany, and subsequently became Louis Vuitton Northern America president and CEO in 2000. He was then appointed managing director of Christian Dior Couture in 2004. He joined Hugo Boss in 2008 as chairman and CEO. Under his responsibility, the turnover of the brand doubled and its profitability increased sharply. Claus-Dietrich Lahrs graduated in business administration from the Universities of Cologne and Bochum; he also holds a degree from HEC Paris.

About Kering

A world leader in apparel and accessories, Kering develops an ensemble of powerful Luxury and Sport & Lifestyle brands: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, JeanRichard, Pomellato, Qeelin, Ulysse Nardin, Puma, Volcom and Cobra. By ‘empowering imagination’ in the fullest sense, Kering encourages its brands to reach their potential in the most sustainable manner.

Present in more than 120 countries, the Group generated revenue of more than €11.5 billion in 2015 and had more than 38,000 employees at year end. The Kering (previously PPR) share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).

Press Contacts:
Emilie Gargatte
+33 (0)1 45 64 61 20
emilie.gargatte@kering.com

Floriane Geroudet
+33 (0)1 45 64 66 00
floriane.geroudet@kering.com

Website: www.kering.com
Social Media
Twitter: @KeringGroup
LinkedIn: Kering 
Instagram: @kering_official
YouTube: KeringGroup

Source: Kering