Struggling Gucci Owner’s Shares Soar Over New CEO Reports 

A model presents a creation by the Gucci Fall-Winter 2025/2026 collection during Fashion Week in Milan, Italy, February 25, 2025. (Reuters)
A model presents a creation by the Gucci Fall-Winter 2025/2026 collection during Fashion Week in Milan, Italy, February 25, 2025. (Reuters)
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Struggling Gucci Owner’s Shares Soar Over New CEO Reports 

A model presents a creation by the Gucci Fall-Winter 2025/2026 collection during Fashion Week in Milan, Italy, February 25, 2025. (Reuters)
A model presents a creation by the Gucci Fall-Winter 2025/2026 collection during Fashion Week in Milan, Italy, February 25, 2025. (Reuters)

Shares in Gucci owner Kering jumped Monday over reports that the outgoing boss of French automaker Renault would take over as chief executive of the struggling luxury group.

Renault shares, however, fell following its announcement Sunday that Luca de Meo, 58, would step down on July 15 "to take on new challenges outside the automobile sector" after five years at the helm of the company.

Le Figaro newspaper reported that de Meo would take over at Kering, the French luxury group that owns Gucci, Yves Saint Laurent, Balenciaga and other premium brands.

Kering has struggled to turn things around at Gucci, the Italian fashion house famous for its handbags and which accounts for half of the group's overall sales.

Previous reports have said the group's chief executive Francois-Henri Pinault would stay on as chairman of the group in a management shake-up.

Kering shares rose more than six percent to 183 euros ($212) in morning deals at the Paris stock exchange.

Shares in Renault fell 6.7 percent to 40.10 euros.

Known as a skilled communicator and marketing expert, de Meo is credited with bringing stability to a company that was in turmoil when he took over in 2020.

The automaker was reeling from more than a year of crisis in the wake of the scandal involving Carlos Ghosn, the former head of the Nissan-Renault alliance who fled Japan to avoid trial.

De Meo accelerated the group's shift to electric vehicles and pushed for an upmarket move in an effort to steer the company out of trouble. Renault also owns the Dacia, Alpine, and Lada brands.



Hong Kong Investigates Louis Vuitton Data Leak that Affected 419,000

People pose for pictures next to "The Louis", a large ship-shaped structure of the Louis Vuitton brand, in Shanghai on July 15, 2025. (Photo by Hector RETAMAL / AFP)
People pose for pictures next to "The Louis", a large ship-shaped structure of the Louis Vuitton brand, in Shanghai on July 15, 2025. (Photo by Hector RETAMAL / AFP)
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Hong Kong Investigates Louis Vuitton Data Leak that Affected 419,000

People pose for pictures next to "The Louis", a large ship-shaped structure of the Louis Vuitton brand, in Shanghai on July 15, 2025. (Photo by Hector RETAMAL / AFP)
People pose for pictures next to "The Louis", a large ship-shaped structure of the Louis Vuitton brand, in Shanghai on July 15, 2025. (Photo by Hector RETAMAL / AFP)

Hong Kong's privacy watchdog said on Monday that it was investigating a data leak at Louis Vuitton affecting about 419,000 customers, just after a cyberattack on the luxury brand in South Korea in June.

Leaked data included names, passport details, addresses and email addresses as well as phone numbers, shopping history and product preferences, Hong Kong's Office of the Privacy Commissioner for Personal Data said in an emailed statement.

Louis Vuitton submitted the data breach incident to the office on July 17. Its French head office found suspicious activities on its computer system on June 13 and then discovered on July 2 that it affected Hong Kong customers, Reuters quoted the statement as saying.

The office said it had launched an investigation into Louis Vuitton Hong Kong, including whether the incident involved delayed notification. No relevant complaints or inquiries have been received so far, it said.

The incident comes after a systems breach at Louis Vuitton in Korea in June led to the leak of some customer data, including contact information, but it did not involve customers' financial information, the company said.

Louis Vuitton did not immediately respond to requests for comment.