The French fashion house Kering appointed Luca de Meo as the new CEO of the group, which caused Kering’s shares to rise by 7%. De Meo, known for his successful work in the automotive industry, took over management at a time when brands like Gucci and Saint Laurent are facing challenges. Analysts highlight that his experience in marketing and management will be crucial for the recovery of the luxury sector. Meanwhile, Renault’s shares fell by 7% following De Meo’s departure from the automotive industry. De Meo is expected to bring innovation and stabilization to Kering while facing complex challenges in the luxury industry.
Political Perspectives:
Left: Left-leaning sources emphasize the challenges faced by luxury brands like Gucci and Saint Laurent under Kering’s management and highlight the need for sustainable and ethical business practices in the luxury sector. They view Luca de Meo’s appointment as an opportunity to bring fresh perspectives and possibly more socially responsible strategies to the group.
Center: Center-leaning sources focus on the business and market implications of Luca de Meo’s appointment, noting the positive market reaction with a 7% rise in Kering’s shares and the challenges in turning around luxury brands. They highlight De Meo’s strong background in the automotive sector and his potential to apply his management skills to the luxury fashion industry.
Right: Right-leaning sources emphasize the strategic business move by Kering in appointing an outsider from the automotive industry to revitalize the group. They highlight De Meo’s track record of success at Renault and see his appointment as a sign of strong leadership and a focus on profitability and innovation in the luxury market.