Kering CEO on Gucci, Demna, Icicle and Impact of Mideast Conflict

Summary

Luca de Meo, CEO of Kering, discusses the company's strategic plan to revive Gucci through stability and iconic products under creative director Demna. He addresses short-term volatility from Middle East conflicts but expresses long-term optimism in key regions like the Middle East and China. The interview covers partnerships, deals, and operational adjustments to enhance growth and agility.

• Gucci's strategic rebirth plan focuses on returning to the brand's source and expanding into categories like jewelry and watches.
• Middle East conflict causes short-term sales volatility, but long-term luxury potential in the region is emphasized.
• Partnership with ICF (Icicle) aims to deepen Kering's understanding and presence in the Chinese market.
• Sale of Kering Beauté to L'Oreal aids deleveraging and leverages L'Oreal's marketing for brand development.
• Demna is praised as a creative director for Gucci, with high expectations for brand revival.
• Bottega Veneta is seeking a new CEO, with no rush in decision-making to ensure leadership quality.
• Postponement of Valentino stake increase allows focus on fixing current brands and management bandwidth.
• Relationship with former CEO remains smooth and advisory, supporting operational decisions.