Kering CEO Pinault Unhappy With Gucci Owner's Performance [Financial Post (Toronto, Ontario, Canada)]
KERING SA UNSP/ADR (PPRUY)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — The billionaire Pinault family, which controls the French fashion company that owns Gucci, isn't happy with the performance of Kering SA. “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.” Article content 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. Article content “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 ambitio
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