Kering CEO Pinault Unhappy With Gucci Owner's Performance [BNN Bloomberg (Canada)]
KERING SA UNSP/ADR (PPRUY)
NASDAQ:AMEX Investor Relations:
kering.com/en/finance
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Source: BNN Bloomberg
“You're disappointed, you're frustrated — me too, I'm the first, be sure of that,” Kering Chief Executive Officer Francois-Henri Pinault told shareholders at the annual general meeting in Paris on Thursday. “It's a permanent concern.” FHP, as the son of Kering founder Francois Pinault is known by colleagues, said his teams are determined to make the fashion conglomerate's brands more exclusive and desirable, especially the biggest label, Gucci. “It will take some time but we'll manage,” he said. In his first public comments since Kering announced first-half profit would drop by as much as 45% earlier this week, Pinault said the recent results are far from the group's ambitions. FHP was joined on stage by his two co-deputy CEOs, who struck similar tones. Francesca Bellettini, who's in charge of brand development at Kering, said Gucci was too slow to update its looks following the Covid-19 pandemic, while Jean-Marc Duplaix, who oversees finance and operations, said the recent s
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