Kering goes up in Paris on the day of the Gucci show

(Il Sole 24 Ore Radiocor) - Kering is under scrutiny on the day Gucci, the group's flagship brand, will present its women's collections for next spring/summer in Milan. Since mid-June, following the announcement that CEO Luca De Meo would take over the group in September, Kering has earned around €100 per share, with the market ready to bet on a relaunch of its major brands, especially Gucci , which has been experiencing a turbulent period for years (even in the first half of 2025, it suffered a 26% drop in revenue). De Meo himself stated in recent days: "Gucci, Kering's flagship brand, must be given the utmost attention."

Thus, the spotlight at Milan Fashion Week, which began on September 23, is firmly on the Florentine brand. According to rumors, a fashion show hasn't been organized to present the new collections, but a short film titled "The Tiger" will be screened to introduce the archetypes of the collection, titled "La Famiglia," conceived by creative director Denma Gvasalia (known as Denma), who was appointed head of the style office last March, replacing Sabato De Sarno. The surprise effect, however, faded on the eve of the event, after nearly forty new looks appeared on the brand's website and social media accounts, reinterpretations of the archive and the various styles of the house's creatives, designed by Denma.

Equita analysts noted that initial reactions on social media appear to be quite positive , "despite how followers (and the market) initially greeted Demna's appointment in mid-March." Last spring, in fact, the appointment of the former creative director of Balenciaga was greeted with coldness and skepticism by both financial and fashion experts, fearful of the designer's style, which, despite having contributed to Balenciaga's success, might not be in line with Gucci's standing. The new collection, which appeared online, will be available in the 10 main global flagship stores from September 25th to October 12th. "Given the short sales period and the limited number of stores involved, we don't expect any significant short-term impact from these new products, but we believe that the element of novelty and the way it is conveyed could help restore interest in the brand," Equita experts commented further. However, they recommend caution on Kering shares ('Hold' with a price target of 180 euros).

It's worth remembering that the Florentine label, the Kering group's largest in terms of revenue, has lost approximately €3 billion in revenue in two years , going from €10.5 billion in 2022 to €7.7 billion in 2024. It has felt the pinch of the void left by Alessandro Michele, who led the creative team from 2015 to 2022, with the brand initially recording significant revenue increases under his leadership, only to then slow down and enter a phase of normalization. As if that weren't enough, in the last two years the double-G label has also changed four CEOs: Marco Bizzarri (in charge until 2023), Jean-François Palus (2023-2024), Stefano Cantino (October 2024-September 2025), and then, in recent days, Francesca Bellettini arrived, leaving her position as deputy CEO of Kepler (a position abolished). The manager had distinguished herself at Saint Laurent, where in ten years (2013-2023) she quadrupled the turnover.