Mixed messages from Kering on leather
Luxury group Kering held a capital markets day in Florence on April 16 to present its vision for the near future to investors, analysts and customers.
There were seriously mixed messages about the group’s commitment to the leather industry.
On the plus side, Kering highlighted the importance of leather to most of its brands and said it was committed to continuing to use the material.
It said, for example, that Gucci and Balenciaga would strengthen their leathergoods offer. Saint Laurent, it said, will have “a more elevated leather goods proposition”.
And in the group’s “next chapter”, it said it would reinforce Bottega Veneta’s role as its “emblem of deep luxury”. It said the philosophy behind Bottega Veneta’s recent success was “rooted in timeless craftsmanship, durability, cultural depth, and long term value creation”.
However, at the event itself, beyond press-release platitudes, chief executive, Luca De Meo, who took up the role in September, arriving from Renault, made comments that were far less encouraging.
Our colleagues at Italian industry publication La Conceria attended the event and have reported Mr De Meo as saying Kering will reduce its “dependency on leather” by 30% by 2028.
