Discussion: The State of Kering | Page 4 | the Fashion Spot
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Discussion: The State of Kering

The comments regarding his appointment are irrational.

Yes. Kering does need to be more open to diversity (and be better at talent acquisition) but at the same time, these commenters are suggesting designers that are also not a good fit. Therefore both sides are nonsensical and pointless.

Sean (assuming) has already signed the contract, Kering just needs to do better in the future. (Ie. Balenciaga)
 
Although it is rather difficult and ungrateful to forecast (because what if the reverse happens?) the outcome of Diversity this time in the role of possible designers of European conglomerates.. BUT IF a certain forecast should already be given, a good guideline for Kering would be to briefly glance at the outcome of the print/publishing industry. Obviously, everything that reached key positions through the diversity key proved to be an indisputable success - so direct transfers from the sixth directly to the front row were not rare - everything suddenly blossomed, leaving an indelible mark in the history of the magazines, and on this occasion it would only be right to make a review and to pay tribute to some of the most important masterworks that we have been honored with in the past years, but of course due to the extensiveness, it would be an impossible mission - so, in short - Wonders happened that could only be dreamed of in the 2000s. After the "decade where nothing happened" a whole stable of talents emerged (from photographers, to stylists, and even editors) finally keen to dip their toes into something more visionary and ambitious, whose work is reminiscent of the greatest jewels from the past-having that unique dimension of creative permanency and the singular ability to connect people with memories and feelings that they thought were gone long ago-crushing all preconceived prejudices and irrefutably proving time and time again that being diverse is a absolutely needed and a essential requirement for creating great masterwork. The premise that diversity-based recruitment would lead to the dominance of incompetence thankfully did not become reality - fashion enthusiasts regularly queued up to buy their copies of magazines, faithfully adding it to their collection knowing that the prices of obvious future classics can only skyrocket (win-win for buyers and publishers)-archives and archives of new outstanding work have been created that surely will pass the test of time and be the basis of study for generations to come, and a welcome refuge for all those who will look with nostalgia at the good old days.

So for Kering, the news is reassuring: Technically it’s impossible to make a mistake with Diversity. So it’s quite baffling, that despite its numerous successes, it hardly receives the recognition it should, and designers still have to wait for their turn. Recognizing obvious connections, hand-on-heart has never been Kering's forte, so it's no wonder it's taking them this long. Clearly, some fixing from the outside is needed-and for companies like Kering that obviously sometimes lack on realistic self-perception and pragmatism-fortunately there are highly-principled and above all truth-dedicated entities, who focus with great passion on mega-successful companies, and like well-meaning friends like to think and plan ahead for them. The usual social media suspects faithfully offer appropriate solutions, whose portfolio of methods is diverse as the cause - from the inexhaustible scanning for incriminating material to obscuring facts, from a well-rehearsed list of accusations all the way to pictures-narration (all that is required from the companies is a little prudence and risk appetite, to allow them to have decision-making power in personnel recruitment-and whatever opinion one might have about them, one thing cannot be disputed: they stayed loyal to Europe with their patented solutions). The methods shine the best in semi-darkness, when it is done slowly-step by step (I'm afraid that the CEOs will have to be patient a little longer). The more complex the issue the simpler the solution, and by drawing parallels in previous cases and in other areas (from campaigns, catwalks, office staff looks, etc.) it seems that the method that gives the best results is: race-based-counting placed in one big picture without a particular context-which should set dynamics in motion.

It's just....somehow....The noble recommendation was treated surprisingly casually this time, or it did not have the effect of the desired magnitude, which eventually could confuse or be a warning sign for a company like Kering (cynics would say that a overperformer-underperformer pairing doesn't necessarily always produce synergistic effects, while the more realistic assumed that those who make a living by hammering, are always in desperate need of new nails to hammer in-which led the more rational to think that perhaps the cause of indifference to the given recommendations, lies in the fact that stuck on repeat tactics imply perhaps some perfidious interests, such as appropriation of position of power). Much to the surprise of their friends in the cartel press, who were visibly puzzled as to why there was no significant reaction, since the signals and instructions were quite clear. Journalists have once again (to the delight of readers who value real satirical and entertaining content) summed up the seemingly hopeless situation in which Kering currently finds itself - caused by the fact that the collection of new designer reinforcement does not correlate with the word BANG, adding a novel twist that a correction of the current course-shyly underlining the lack of diversity- could lead to a correlation with the word BANG.

What to expect from the eventual coronation? Will the balancing act between social conscience and business bring Kering the desired results? Will one coronation be enough, or will many more need to follow in order to get the picture right? At this point, Kering's future prospects look rather good (although you never know for sure, "analysts" certainly worry), and Kering appears to be headed for its next upward trajectory, which certainly has some appeal (and concerns) for a certain clientele. The public turning of social media in close cooperation with their journalist friends, was a stunning move, that can hardly be explained other than by their sincere desire to Help Kering to become the strongest institution in the fashion industry-which is primarily manifested by finding the right (master) personnel- whose sole mission would most likely be to create more Kering collections for, let's say: Valentino. Considering the current trends and experiences of companies that have already tried themselves as a training ground for social media ideas, it is to be hoped that it will (not) be very cheap for Kering. Whether it will pay off in the end remains to be seen, but as an instructive development of events, there is already an entire print/publishing industry which, contrary to all assumptions of pessimists, skeptics and evil-doers, has only experienced the rewarding effects of adaptation. Kering just needs to dare.
 

Kering sales slump casts doubt over Gucci reboot​

French group says margins will remain under pressure as it spends to revive brands

Adrienne Klasa in Paris

Sales at Kering fell sharply in the third quarter as a global slowdown in luxury spending hindered the Paris-based group’s efforts to reboot its Gucci brand. Revenues fell 13 per cent to €4.46bn in the quarter, a steeper drop than the 11.4 per cent decline analysts expected.

Sales at Gucci and Saint Laurent, Kering’s two biggest brands, fell 14 and 16 per cent respectively. Gucci’s new designer, Sabato de Sarno, unveiled his first collection at the end of September, which Kering hopes will revive flagging sales at its biggest profit engine. However, that collection will not arrive in stores until early next year.

Gucci’s momentum has been stalling for the past three years while rivals such as Dior and Louis Vuitton, owned by LVMH group, have taken off. However, some of Kering’s smaller brands that had been growing steadily, as in Bottega Veneta and Saint Laurent, also face a slowdown. Balenciaga has yet to shake off the fallout of a botched advertising campaign that punctured its sales in the US and Europe.

Kering reorganised its top management and announced several acquisitions, including a roughly €3.5bn deal to buy high end perfumer Creed, over the summer to reignite growth. Jean-François Palus, a longtime Kering executive close to group chief executive François-Henri Pinault, has been dispatched on a temporary basis to oversee the turnaround at Gucci, while Yves Saint Laurent chief executive Francesca Bellettini was promoted to take on the role of co-deputy chief executive overseeing brands across the group.

Jean-Marc Duplaix, deputy chief executive, on Tuesday said: “We are confident we have the right organisation in place to regain momentum and market positions.” He added that earlier targets for growth in profit margins for this year at Gucci, which accounted for two-thirds of the group’s profits last year, were now unlikely to be achieved and margins would remain under pressure next year as the group spends to reboot its brands.

Duplaix said: “We were betting on mid-single digit growth, and you can guess given the performance in [third quarter] and what is happening in the market, this won’t be the case. We expect dilution of the [earnings before interest and taxes] margin for the full year compared to last year.”

Kering is also in the process of cutting its wholesale distribution network to achieve greater control over pricing, a project that has dragged on sales, particularly in the US, but that is expected to be largely completed in 2024. The luxury industry is coming off a three-year global boom that set records for sales and profits at many of the industry’s biggest names. Kering, however, did not benefit from the surge in sales as much as rivals such as LVMH and Hermès. The pair have reported softer numbers in the most recent quarter, but Kering’s decline is far more marked than the other two groups which continued to grow their sales.

“We remain cautious on Kering’s turnaround story as it remains to be seen whether key brand Gucci will be able to successfully relaunch brand momentum through its new aesthetic,” analysts at Barclays noted earlier this month as they cut their full-year targets.

FINANCIAL TIMES
 

Kering sales slump casts doubt over Gucci reboot​

French group says margins will remain under pressure as it spends to revive brands

Jean-Marc Duplaix, deputy chief executive, on Tuesday said: “We are confident we have the right organisation in place to regain momentum and market positions.” He added that earlier targets for growth in profit margins for this year at Gucci, which accounted for two-thirds of the group’s profits last year, were now unlikely to be achieved and margins would remain under pressure next year as the group spends to reboot its brands.


FINANCIAL TIMES
And they ARE spending at Gucci lately. The constant stream of celebrity fronted campaigns...I'm not sure that's going to be enough to get back on track. They're investing quite a lot in this whole Ancora thing and Sabato's 'vision', they probably will be very persistent in pushing and pushing the brand.
2024 will be an interesting year for sure.

Surprised to see the revenue drop in Saint Laurent too...

Thanks for posting as always Frederic01!
 
Pretty bad.


Source: Twitter
Okay.. it does look kind of bad. Just so men (gay or straight) get an idea, it's like 'hey, these are the new designers for all the main menswear shows!':
alpha.jpg
adpisouthcarolina

.. of all genders and of all women, it's the average sorority girl who repeatedly knows and dictates exactly what men should be wearing...? :woozy:..why?. So yeah, odd, not odd enough to break stuff or scream 'injusticeeeeeee!' on social media but it still begs a really deep question: what's up with that? lol.


@San Marco nice to see you posting more, esp at that length. May not see eye to eye but it's posts like yours what built this area of the forum and keep it so different from what the rest of the internet asks from anyone interested in fashion (limited questions, minimal commentary, yes to everything).

I will ask though, what is the 'cartel press' in fashion? do you mean the usual media outlets or all forms of media? is journalists in italics because they're trash in fashion nowadays or because the occupation itself is questionable? not going to lie, I had a hard time dissecting your post so I could see past the irony/sarcasm/Great Awakening vibe and finally get to your thoughts.
 

Kering sales slump casts doubt over Gucci reboot​

French group says margins will remain under pressure as it spends to revive brands

Adrienne Klasa in Paris

Sales at Kering fell sharply in the third quarter as a global slowdown in luxury spending hindered the Paris-based group’s efforts to reboot its Gucci brand. Revenues fell 13 per cent to €4.46bn in the quarter, a steeper drop than the 11.4 per cent decline analysts expected.

Sales at Gucci and Saint Laurent, Kering’s two biggest brands, fell 14 and 16 per cent respectively. Gucci’s new designer, Sabato de Sarno, unveiled his first collection at the end of September, which Kering hopes will revive flagging sales at its biggest profit engine. However, that collection will not arrive in stores until early next year.

Gucci’s momentum has been stalling for the past three years while rivals such as Dior and Louis Vuitton, owned by LVMH group, have taken off. However, some of Kering’s smaller brands that had been growing steadily, as in Bottega Veneta and Saint Laurent, also face a slowdown. Balenciaga has yet to shake off the fallout of a botched advertising campaign that punctured its sales in the US and Europe.

Kering reorganised its top management and announced several acquisitions, including a roughly €3.5bn deal to buy high end perfumer Creed, over the summer to reignite growth. Jean-François Palus, a longtime Kering executive close to group chief executive François-Henri Pinault, has been dispatched on a temporary basis to oversee the turnaround at Gucci, while Yves Saint Laurent chief executive Francesca Bellettini was promoted to take on the role of co-deputy chief executive overseeing brands across the group.

Jean-Marc Duplaix, deputy chief executive, on Tuesday said: “We are confident we have the right organisation in place to regain momentum and market positions.” He added that earlier targets for growth in profit margins for this year at Gucci, which accounted for two-thirds of the group’s profits last year, were now unlikely to be achieved and margins would remain under pressure next year as the group spends to reboot its brands.

Duplaix said: “We were betting on mid-single digit growth, and you can guess given the performance in [third quarter] and what is happening in the market, this won’t be the case. We expect dilution of the [earnings before interest and taxes] margin for the full year compared to last year.”

Kering is also in the process of cutting its wholesale distribution network to achieve greater control over pricing, a project that has dragged on sales, particularly in the US, but that is expected to be largely completed in 2024. The luxury industry is coming off a three-year global boom that set records for sales and profits at many of the industry’s biggest names. Kering, however, did not benefit from the surge in sales as much as rivals such as LVMH and Hermès. The pair have reported softer numbers in the most recent quarter, but Kering’s decline is far more marked than the other two groups which continued to grow their sales.

“We remain cautious on Kering’s turnaround story as it remains to be seen whether key brand Gucci will be able to successfully relaunch brand momentum through its new aesthetic,” analysts at Barclays noted earlier this month as they cut their full-year targets.

FINANCIAL TIMES


Can they now get rid of Demna?! It’s time!! They need to just let him go!! There really is no reason to keep him any longer!!
 
As I said on another thread, the issue with the Gucci reboot under Sabato is that it's absolutely directionless. The jewellery campaign with Werbowy and the lipstick red colour say "Saint Laurent". The runway show says "Valentino". The Valigera and Horsebit campaign say "JW Anderson". A tenure starting off like this is a very bad sign. Gucci may be a corporate brand, but it's nowhere near the size to pull the "Italian Louis Vuitton" card.

As for Saint Laurent, it would help if Vaccarello introduces a couple of new elements to his vision as this is already "Winter 22, Volume IV". Kering did a fatal mistake by stretching Belletini thin across six brands. They could have simply had the other CEOs parrot her (quite simple) methods. Saint Laurent's success lies in the smooth transition between very loved Slimane and Vaccarello with the gradual introduction of Vaccarello's tastes with Michaux, SebastiAn, Betak, Teller, Sinclaire and Canguilhem.

Gucci and Bottega could've benefitted from such a shift, considering how iconic and recognisable Michele's Gucci, and to a lesser extent Lee's Bottega, had become to a whole generation of fashion and luxury buyers.

As for their smaller brands, they need to focus on rebuilding identities that feel new, fresh and distinctive. This will be very important for McGirr's McQueen, considering how hated he currently is by the fashion media. It would also be a good idea to consider preparing Balenciaga and Brioni for rebranding within the next half-decade. They could also implement diverse creative directors there.
 
This will be very important for McGirr's McQueen, considering how hated he currently is by the fashion media.
is he really hated though? haven't seen much vitriol (apart from my own :rofl:) directed at him on twitter or anywhere else. i think people are mostly either apprehensive (rogue pick, unqualified) or unreasonably upset simply because he's a white man lmao.
 
is he really hated though? haven't seen much vitriol (apart from my own :rofl:) directed at him on twitter or anywhere else. i think people are mostly either apprehensive (rogue pick, unqualified) or unreasonably upset simply because he's a white man lmao.
Lots of comments on Instagram made nasty comments on his (assumed) homosexuality and called for boycotts on Alexander McQueen. People on Twitter seemed to be more capable of accepting McGirr as a designer, while criticising Kering's hiring processes.
 
As I said on another thread, the issue with the Gucci reboot under Sabato is that it's absolutely directionless. The jewellery campaign with Werbowy and the lipstick red colour say "Saint Laurent". The runway show says "Valentino". The Valigera and Horsebit campaign say "JW Anderson". A tenure starting off like this is a very bad sign. Gucci may be a corporate brand, but it's nowhere near the size to pull the "Italian Louis Vuitton" card.

As for Saint Laurent, it would help if Vaccarello introduces a couple of new elements to his vision as this is already "Winter 22, Volume IV". Kering did a fatal mistake by stretching Belletini thin across six brands. They could have simply had the other CEOs parrot her (quite simple) methods. Saint Laurent's success lies in the smooth transition between very loved Slimane and Vaccarello with the gradual introduction of Vaccarello's tastes with Michaux, SebastiAn, Betak, Teller, Sinclaire and Canguilhem.

Gucci and Bottega could've benefitted from such a shift, considering how iconic and recognisable Michele's Gucci, and to a lesser extent Lee's Bottega, had become to a whole generation of fashion and luxury buyers.

As for their smaller brands, they need to focus on rebuilding identities that feel new, fresh and distinctive. This will be very important for McGirr's McQueen, considering how hated he currently is by the fashion media. It would also be a good idea to consider preparing Balenciaga and Brioni for rebranding within the next half-decade. They could also implement diverse creative directors there.
I don’t think the numbers at Saint Laurent are a reflection of Anthony’s work per say because it’s still very relevant, decently priced and very well presented/curated.

Saint Laurent accessories are very « affordable » in the luxury market. I don’t think they had a price increase recently. Maybe they should slow down on the release of bags, focus their marketing in some iconic bags and have a small price increase. Nobody can say that the offer at YSL is not diverse and cohesive…

Maybe he should also have a new menswear design director because I’m not sure his menswear, as striking and visually appealing it is, really speaks to a consumer.

Balenciaga will definitely need a major rebrand.

I think that now more than ever, KERING is paying the price of not having beauty in their hands.

The brands have each a quite strong identity now and for those who don’t have, at least there’s an imagery created in the mind of consumers.

They made the mistake to discontinue Nicolas’s fragrances. Alexander McQueen had fragrances back in the day and we all know the situation with L’Oreal.
And if I remember, Bottega Veneta also had amazing fragrances.

About Gucci, when you look at the new designs at Vuitton, endless releases of Jackie bags is not enough.
 
I don’t think the numbers at Saint Laurent are a reflection of Anthony’s work per say because it’s still very relevant, decently priced and very well presented/curated.

Saint Laurent accessories are very « affordable » in the luxury market. I don’t think they had a price increase recently. Maybe they should slow down on the release of bags, focus their marketing in some iconic bags and have a small price increase. Nobody can say that the offer at YSL is not diverse and cohesive…

Maybe he should also have a new menswear design director because I’m not sure his menswear, as striking and visually appealing it is, really speaks to a consumer.

Balenciaga will definitely need a major rebrand.

I think that now more than ever, KERING is paying the price of not having beauty in their hands.

The brands have each a quite strong identity now and for those who don’t have, at least there’s an imagery created in the mind of consumers.

They made the mistake to discontinue Nicolas’s fragrances. Alexander McQueen had fragrances back in the day and we all know the situation with L’Oreal.
And if I remember, Bottega Veneta also had amazing fragrances.

About Gucci, when you look at the new designs at Vuitton, endless releases of Jackie bags is not enough.
I am fully convinced Gucci and YSL both need two designers, one for womenswear, and one for menswear. Dior, Hermès and Vuitton do it. YSL had it with Hedi and Alber.
 
The fact that most news outlets are using photos of Sabato's first collection in association with the entire downturn of Kering in their articles is so unfortunate for him...


WWD
 
Historically, Gucci does well when its collections are daring, charismatic and prodigious.

This "blandification" of the brand is gravely miscalculated and clearly, an obvious directive that they wanted a quick fix without navigating its setbacks. Now, There's no turning back. They have to be extremely pragmatic about these projections and reports. If they need to fully change their direction next season, it would be paramount and necessary at this point.
 
Sabato’s first collection wasn’t bad per se, it just wasn’t enough for what it was trying to achieve. It’s like any other company, you don’t don’t start off with a whimper. You go bold. Either go full on slick minimalism, or extreme flamboyance. Once you see the reaction it can be fine tuned to fit the market. Gucci failed to make any kind of impact and now they’re in a gray area. So now what do they do? It will be interesting to see what happens next because what ever it is, it’s going to be extreme. They have no other choice.
 
I don’t think the numbers at Saint Laurent are a reflection of Anthony’s work per say because it’s still very relevant, decently priced and very well presented/curated.

Saint Laurent accessories are very « affordable » in the luxury market. I don’t think they had a price increase recently. Maybe they should slow down on the release of bags, focus their marketing in some iconic bags and have a small price increase. Nobody can say that the offer at YSL is not diverse and cohesive…

Maybe he should also have a new menswear design director because I’m not sure his menswear, as striking and visually appealing it is, really speaks to a consumer.

Balenciaga will definitely need a major rebrand.

I think that now more than ever, KERING is paying the price of not having beauty in their hands.

The brands have each a quite strong identity now and for those who don’t have, at least there’s an imagery created in the mind of consumers.

They made the mistake to discontinue Nicolas’s fragrances. Alexander McQueen had fragrances back in the day and we all know the situation with L’Oreal.
And if I remember, Bottega Veneta also had amazing fragrances.

About Gucci, when you look at the new designs at Vuitton, endless releases of Jackie bags is not enough.
I was trying to rationalise why Saint Laurent would have such a drastic drop after such consistently healthy sales with the (lowkey genius) brand strategy they have. Maybe Kering is using Saint Laurent's money to invest in the other houses (can they even legally do that?).

It would be a good idea to focus on marketing their Cassandre, Loulou and Kate bags and maybe their shoes, like the Opyum heels. They don't necessarily have to walk the runway, but it would be smart to create a Teller-style campaign that centers them.

The menswear is interesting to look at, but too odd for most men to approach in real life. A new design director could do good, but I feel like a co-creative direction, à la Karl and Silvia, solely for the menswear would be more beneficial.

As for beauty and fragrances, Kering needs to make a mutually beneficial deal with L'Oréal for YSL Beauty. I'd suggest a licensing agreement that encompasses Gucci, Saint Laurent and Bottega Veneta. L'Oréal manages production and distribution, with Kering receiving commissions for managing the aesthetics and marketing. Of course, there would be other agreements to be made for it to work.

If Gucci wants to become the "Louis Vuitton of Italy", Kering needs to analyse Louis Vuitton's marketing and merchandising strategies during the 90s, 00s and early 10s and figure out how to apply to modern day. A brand doesn't become the "Supermarket of Luxury" by accident.

Otherwise, Gucci could do the Chanel/Hermès method of focusing heavy on their codes and classical items and pushing them to the furthest of their capabilities (see Ford as their Lagerfeld). They have a century's worth of products to reissue, remodel and recolour to seasonal desires
Historically, Gucci does well when its collections are daring, charismatic and prodigious.

This "blandification" of the brand is gravely miscalculated and clearly, an obvious directive that they wanted a quick fix without navigating its setbacks. Now, There's no turning back. They have to be extremely pragmatic about these projections and reports. If they need to fully change their direction next season, it would be paramount and necessary at this point.
Sabato’s first collection wasn’t bad per se, it just wasn’t enough for what it was trying to achieve. It’s like any other company, you don’t don’t start off with a whimper. You go bold. Either go full on slick minimalism, or extreme flamboyance. Once you see the reaction it can be fine tuned to fit the market. Gucci failed to make any kind of impact and now they’re in a gray area. So now what do they do? It will be interesting to see what happens next because what ever it is, it’s going to be extreme. They have no other choice.
Minimalism can be daring, but it has to be confrontation and striking. Raf Simons after John Galliano is a very good example of that.

With all those shift dresses, Sabato would've befitted from going super slick 60s mod minimalism: primary colours, leather, micro-bras, short skirts and shorts, court heels, bare legs, bobs cut to the ear, logos restricted to metal hardware.

Think of Courrèges, but more glamorous than sporty.
 
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This article is from March, but it might be relevant as to why Kering is suffering double-digit losses. The most interesting part is that Kering has plans to reduce production quantities and raise prices across all of their houses.
Kering Sets Goal to Decouple Growth From Climate Impact
The French luxury giant is betting on higher prices and a suite of emerging supply-chain initiatives to help keep growing its business while cutting total greenhouse gas emissions.

By SARAH KENT
17 March 2023

KEY INSIGHTS
• Kering is the first of Europe’s major luxury players to commit to climate targets that will require decoupling growth from environmental impact.
• The Gucci and Saint Laurent owner has set a goal to cut emissions across its supply chain 40 percent by 2035.
• Higher prices that “prioritise value over volume” are a key focus as the company sets a course to deliver on this goal.
• In February, Kering chief executive François-Henri Pinault told investors that the delicate balancing act the French luxury group has tried to perform between furthering its business objectives and limiting its environmental impact was “no longer sufficient” to meet its climate ambitions.

Though Kering has positioned itself at the forefront of fashion’s efforts to operate more sustainably, like many of its luxury rivals, its environmental targets have focused on reducing impact relative to sales. That means so long as business is growing, so could the company’s footprint.

But that’s a position that’s getting harder to justify for businesses that want to be taken seriously on climate. Global carbon emissions hit a new record last year, leaving the world with 50/50 odds of staving off a climate catastrophe, according to research group Global Carbon Project. The effects are being felt in extreme weather events, which pose a threat to businesses as well as communities. Some impacts are already irreversible.

“We see what is happening all over the world,” said Kering’s sustainability chief, Marie-Claire Daveu. “It is also our role to try to go beyond, and not only speak about [emissions] intensity, but to make a commitment about absolute value.”

On Friday, Kering updated its climate goals to address this tension for the first time. Its new target is an absolute emissions reduction of 40 percent across its supply chain by 2035.

“It’s very ambitious, because we are also a company and we want to continue our growth,” said Daveu. “So beyond this kind of target is a decorrelation between the growth of the business and degrowth of greenhouse gases.”

A Thorny Challenge
Though retailers in other parts of the market have already progressed in this direction, Kering’s new target makes it the first among Europe’s major luxury groups to grapple with one of fashion’s thorniest sustainability challenges: we cannot consume our way out of the climate crisis. There is a direct relationship between the amount brands produce and environmental impact, which means companies need to find new models that don’t rely on making and selling more new stuff.

But while ambitions across the industry are growing, emissions are still rising, too.

Kering managed to reduce its environmental footprint (measured using an environmental profit & loss, or EP&L account, which puts a financial value on factors like emissions, land use, waste and water pollution) by 40 percent relative to sales between 2015 and 2021 — meeting a previous target four years early. But in absolute terms, its footprint grew by 30 percent over the same period.

In 2021, that trend shifted, with the company’s growth diverging from its impact for the first time. Though sales rose 10 percent that year compared to pre-pandemic levels, operational efficiencies and efforts to source lower raw materials helped offset the cost to the environment. The company’s EP&L score declined 11 percent compared to 2019.

To meet its new target, the company needs to show it can sustain and build on that trend.

‘Value Over Volume’
So far, Kering has only outlined in the broadest terms how it plans to do that, but a growing focus on elevating its brands’ positioning and exclusivity will play a significant role.

The “idea is to really to prioritise value over volume,” said Daveu. “We are speaking about quality and exclusivity, and for me, that’s really how the business will bring solutions to decrease greenhouse gases.”

Other key areas of focus include improving raw-material sourcing and efficiency in manufacturing and inventory management, as well as expansion into new sales channels and services. The company has set up a sustainable finance department to help unlock long-term solutions but provided no details on spending or investment plans.


Some of the things it is looking at are opportunities to use AI to help better predict volumes and sizes and to track sell-through rates for products, said Daveu. Several of the group’s brands have experimented with second-hand sales and the group invested in luxury resale platform Vestiaire Collective in 2021. Last year, it set up a climate fund with L’Occitane as part of its efforts to promote regenerative farming practices, and it’s experimenting with next-generation materials, like leather alternatives.

“There’s no magic solution, but to reach this target we will have to push on all the topics,” said Daveu.
Source: BoF

The most relevant part here (marked in red) is that Kering has plans to rebuild their exclusivity, while reducing emissions. They will be reducing production quantities and raising product prices across all of their brands. This is probably another factor as to why Belletini reduced Saint Laurent's wholesale accounts.
 
Okay.. it does look kind of bad. Just so men (gay or straight) get an idea, it's like 'hey, these are the new designers for all the main menswear shows!':
View attachment 1239366
adpisouthcarolina

.. of all genders and of all women, it's the average sorority girl who repeatedly knows and dictates exactly what men should be wearing...? :woozy:..why?. So yeah, odd, not odd enough to break stuff or scream 'injusticeeeeeee!' on social media but it still begs a really deep question: what's up with that? lol.


It does look goofy presented that way, but.... women are the ones buying the collections. And none of it is necessities, so it's not really dictated. So it all comes down to personal preference for which brands and designers one would like to support. Something is considered a "main" show because of the success/size of the brand, but that's entirely dictated by the consumer which, in the case of womenswear, is 95% women. Gucci, Bottega, Saint Laurent, Balenciaga, Alexander McQueen.... these are all brands founded by, in most cases named after, and currently led by men. Is the solution just plug-and-play diversity? Hire a woman CD to front an already successful brand founded by a man to design within a recognizable and proven-successful brand "aesthetic" developed by a man? There are plenty of brands founded by and led by women, so the option is there to vote with one's dollar. Chloé, Chanel, Stella McCartney, Simone Rocha, Ulla Johnson, Vera Wang, The Row, Isabel Marant, Miu Miu, the list goes on of brands that either already are or have the visibility and opportunity to become a "main" brand with consumer support. Still more are already wildly successful brands founded by men but led by women today - Dior, Hermes, Prada, Versace. I notice on here at least, that many of the female designers are constantly being torn down and mocked - even in the face of marked success, like Virginie and MGC. And I don't think it's just male commenters doing that.
 
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The validity of a price increase is appropriate if the current products are desirable and high in demand. The way they said "to prioritize value over volume,” sounds like an elevator pitch than an actual commitment. Gucci and Saint Laurent's consumers are Upper Middle Class in the majority. Sadly, these are the people who wouldn't give a tuppence about "Climate Goals" when shopping.

They have to do better in showcasing merchandise that is desirable and worth the indulgence. A quilted pouch with a "YSL" logo is not worth the increase for their targeted audience. While Gucci's Jackie bag is already lacking in lustre and appeal through their campaigns.
 
It does look goofy presented that way, but.... women are the ones buying the collections. And none of it is necessities, so it's not really dictated. So it all comes down to personal preference for which brands and designers one would like to support. Something is considered a "main" show because of the success/size of the brand, but that's entirely dictated by the consumer which, in the case of womenswear, is 95% women. Gucci, Bottega, Saint Laurent, Balenciaga, Alexander McQueen.... these are all brands founded by, in most cases named after, and currently led by men. Is the solution just plug-and-play diversity? Hire a woman CD to front an already successful brand founded by a man to design within a recognizable and proven-successful brand "aesthetic" developed by a man? There are plenty of brands founded by and led by women, so the option is there to vote with one's dollar. Chloé, Chanel, Stella McCartney, Simone Rocha, Ulla Johnson, Vera Wang, The Row, Isabel Marant, Miu Miu, the list goes on of brands that either already are or have the visibility and opportunity to become a "main" brand with consumer support. Still more are already wildly successful brands founded by men but led by women today - Dior, Hermes, Prada, Versace. I notice on here at least, that many of the female designers are constantly being torn down and mocked - even in the face of marked success, like Virginie and MGC. And I don't think it's just male commenters doing that.
Well, there's one more pressing issue than men historically dominating all fields but particularly doubling down on one that exclusively targets women, with all that entails (notions of how we should look like, dress like, ideals, what's 'desirable' and what isn't and the amount of value on image, you name it), and also fashion's biggest challenge: the dominance of conglomerates and the fact that they primarily operate through the laughable 'tribute band' format, revitalizing ancient houses and their "codes" (was that the word you hate? sorry :rofllaughing:).. codes/guidelines that were created for a very different society where they were, for the most part, in the closet, and we were in the kitchen. And yes, you can inject some 2023 dose in them, reinvent them, spice them up, but it doesn't change the foundation, that your designs are a 'continuation' of that relic, and the fact that the voice "reinterpreting" said codes needs to be secondary to the 'worshipped' dead person that founded the house, and that's issue #3 because you are deflating the potential for that person who's very much alive, and allegedly talented or at least well-trained and capable to communicate more accurately design through his/her own sociocultural context.

This issue with the ancient houses being the absolute authority in fashion is not really unbreakable, only 13-18 years ago there was a nice balance between independence, some notion of autonomy and the people who wanted to be trapped in these machines by choice and not because it's their only way to secure a steady income. That is super problematic to me and I'm really hopeful/crossing fingers that in a generation or two a group of people will open up their eyes and see how NOT normal that is and how you can challenge the suits and this ultra-corporate direction of fashion.

Moving past that (but without ignoring that), that a company was founded by a man... I mean... most companies in this planet were founded by a man, tampax was founded by a man lol.. it's a patriarchy, supported by a very defensive and ultra-sensitive group of men and women who will take anything, except you questioning their favorite men. In an ideal world, old houses would go back to where they belong: a museum exhibition every 15 years with low attendance because their input on 1950s women is THAT fascinating for the general public.... and the tribute bands that have been playing their hits over and over (aka. designers that are really just hacks that know how to suck up to suits or rise to the 'bro'occasion for their approval) would have to design for women in this time and age and that's one hell of a challenge because we can all have an idea of the past, but it takes actual skills, sensibility and having a sharp ear/eyes to capture the present and the future.


Back to the initial part of your post, I think you underestimate the role of marketing in an industry that relies on notions of beauty and luxury and the aggressive way it needs to make its way through popular culture so that a potential consumer is finally engaged. The consumer doesn't 'dictate', the state of the economy moderates its participation but marketing leads the consumer and indoctrinates, teaching him what he didn't know he wanted and with enough insistence, convince him that he wants it now. So it is more of a personal effort, not entirely a personal preference, especially for a group whose entire value in society, has been placed not on skill, but on appearance.

Now, I'm going to jump back to the end of your post (sorry, I'm.. :mancartwheeling: ).. there's a difference between mockery and criticism. Women are not above criticism, especially in a field that does have an impact on how we present ourselves. In all my years in this forum, I have seen a fair amount of criticism for every designer regardless of gender but it really is only in the past 1-2 years when I have seen pure sexist mockery, and I personally have never seen it coming from a female member. I know the demographics here changed a lot and ignorance can be one tragic display of tastelessness sometimes but even last week or so, I read something like 'wE aLl kNoW mEn aRe JuSt BeTtEr dEsIgNeRs' when talking about womenswear. That doesn't even merit a reply but it goes to show how a) people won't pick up a book even if it's for the sake of enriching their own passions lol, and b) convenient way of obsessing with the past.. you want nothing more than lusting after dusty old houses, but simultaneously choose to ignore the social disadvantage in how up until 30-40 years ago women were expected to fulfill their main duty (home) and defying that often meant (and it still does for a majority) being alienated even from society or your own family, and fashion (as conceived by Rose Bertin), became a safe haven for discriminated men, where women accepted them and cherished them, and supported their creations and businesses. So there are more elements at play besides... divine superiority, or what you usually hear here explicitly or implied.. that, of all things, women are somehow incompetent in the one thing that's made them visible, and.. rankable, for centuries.
 

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