Kering (KER) CMD 2026 summary

Strategic transformation and organizational reset

• Launched ReconKering to restore clarity, execution discipline, and long-term leadership, blending luxury values with new technologies and client expectations.

• Simplified the organization into four strategic businesses and five operational hubs, reinforcing governance, accountability, and speed.

• Reinforced the balance sheet by monetizing assets, postponing acquisitions, and targeting a net debt to EBITDA of 1.5 by end-2026.

• Rationalized the retail network, closing underperforming stores, targeting at least 250 net closures by 2030, and refurbishing two-thirds of boutiques.

• Implemented advanced inventory management and AI-driven forecasting, aiming for a €1 billion inventory reduction and best-in-class stock ratios.

Brand and portfolio strategy

• Adopted a consumer-centric brand strategy with formalized playbooks, clear positioning, and unified KPIs to maximize portfolio potential.

• Segmented client strategy into top-tier, core, and aspirational clients, aiming to double business with top clients and increase recruitment by 30% among younger segments.

• Reset product architecture across Houses, focusing on icons, heroes, and essentials to improve full price sell-through by 20 points between 2025 and 2030.

• Prioritized growth in leather goods, men’s categories, classics, and jewelry, with ambitions to double jewelry business and expand men’s ready-to-wear by 2030.

• Targeted geographic expansion in China and emerging markets, with tailored brand narratives and disciplined retail footprint management.

House-level ambitions and product focus

• Gucci: Refocused on brand essence, reduced SKUs by 20%, doubled icons’ share in women’s handbags, and aims to grow leather goods and ready-to-wear by over €1.6 billion by 2030.

• Saint Laurent: Plans to increase women’s handbags revenue by 40%, double men’s segment, triple jewelry business, double Asia business, and achieve 30% of revenue from iconic leather goods.

• Bottega Veneta: Will more than double non-leather goods revenue, increase VIC share by 50%, and maintain brand exclusivity while expanding visibility.

• Balenciaga: Targets to double leather goods and women’s ready-to-wear by 2030, leveraging cultural relevance and innovation to drive Gen Z engagement.

• McQueen: Undergoing a deep reset, halving store network by end-2026, and refocusing on core British luxury identity and profitable growth.

• Brioni: Expanding from formalwear to full lifestyle, leveraging customization and clienteling, and serving as a group reference for tailoring excellence.