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Kering Seeks to 'Reignite Desirability' with Gucci Reset

(FILES) This illustrative photograph shows screens displaying the logo of the French company Kering, listed on the CAC 40, the main stock market index of the Paris Stock Exchange, in Toulouse on March 31, 2026. (Photo by Lionel BONAVENTURE / AFP)
(FILES) This illustrative photograph shows screens displaying the logo of the French company Kering, listed on the CAC 40, the main stock market index of the Paris Stock Exchange, in Toulouse on March 31, 2026. (Photo by Lionel BONAVENTURE / AFP)
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Kering Seeks to 'Reignite Desirability' with Gucci Reset

(FILES) This illustrative photograph shows screens displaying the logo of the French company Kering, listed on the CAC 40, the main stock market index of the Paris Stock Exchange, in Toulouse on March 31, 2026. (Photo by Lionel BONAVENTURE / AFP)
(FILES) This illustrative photograph shows screens displaying the logo of the French company Kering, listed on the CAC 40, the main stock market index of the Paris Stock Exchange, in Toulouse on March 31, 2026. (Photo by Lionel BONAVENTURE / AFP)

French luxury group Kering vowed Thursday to "reignite desirability" of its flagging Gucci label, once the jet set's most coveted brand, as it seeks to turn around its financial performance.

The giant Paris-based fashion conglomerate, which also owns Yves Saint Laurent and Bottega Veneta, chose Florence, the birthplace of its flagship double-G brand, to unveil its turnaround plans to investors.

Kering plans a "structural reset" to be completed by the end of the year that will make it more efficient in order to improve margins and restore financial discipline to its brands, AFP quoted the company as saying.

Kering promises to offer "the agility of a challenger, a renewed focus on desirability and a stronger commitment to execution," Chief Executive Luca de Meo said in a statement.

Whether Kering's new plan -- called ReconKering -- will be enough to revive the struggling Gucci brand is yet to be seen, especially given the tough selling environment facing the entire luxury sector amid geopolitical tensions and more cautious consumer spending.

Long the bright spot in Kering's portfolio and the darling of the fashion set before the Covid pandemic, sales of Gucci have since slumped by over a third to six billion euros last year.

While Gucci accounted for two-thirds of Kering's sales in 2019, that share fell to under 40 percent in 2025, pointing to its lackluster reception by luxury shoppers.

Profitability also sagged over this period.

Last year, Kering brought in Georgian Gen Z streetwear favorite Demna as Gucci's new artistic director while poaching De Meo from Renault, where he revitalized the automaker's lineup and financial performance.

Kering said it will go about "reigniting desirability by refocusing the brand around what makes it unmistakably Gucci, with clear creative direction, disciplined codes and a revitalized heritage with true cultural impact."

Sales in Gucci's first quarter declined by 14 percent to 1.35 billion euros, hit by shrinking demand in its key market of China and a cautious consumer environment due to the war in the Middle East.

Shares of Kering fell nearly two percent on the Paris stock exchange, underscoring investor's tepid response to the turnaround plans.

Kering gave few clues as to how exactly it would right the ship at Gucci, which enjoyed its headiest days under designer Tom Ford in the 1990s, who turned the leather goods brand into a fashion powerhouse beloved of the jetset.

"Gucci has had all sorts of issues. It's had issues on distribution. It's had issues on product. It's had issues on pricing," said Flavio Cereda, a luxury sector specialist at GAM, an investment firm, ahead of the investor day.

"Do people care about Gucci today? I don't think they do. Can people care about Gucci in six months' time? It's perfectly possible. We just don't know."

Kering said a new group platform will consolidate key functions such as purchasing, logistics, research and development and quality control for all its brands.

That will allow each brand within the portfolio to operate with more "power, speed and efficiency", Kering said.

For the group as a whole, Kering envisions doubling its recurring operating margin in the medium term to reach at least 22 percent, while improving its return on capital -- another measure of profitability -- by 20 percent, helped by more controlled inventory and selective investments.

By the end of 2028, Kering said, the group "will be in a phase of renewed, sustainable growth."

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Fashion

French Parliament Adopts Bill to Regulate Fast Fashion

This photograph shows the logo of Asian e-commerce giant Shein in its stall at the Bazar de l'Hotel de Ville (BHV) department store in Paris on November 4, 2025, on the eve of the opening of its first physical store at BHV in Paris. (AFP)
This photograph shows the logo of Asian e-commerce giant Shein in its stall at the Bazar de l'Hotel de Ville (BHV) department store in Paris on November 4, 2025, on the eve of the opening of its first physical store at BHV in Paris. (AFP)
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French Parliament Adopts Bill to Regulate Fast Fashion

This photograph shows the logo of Asian e-commerce giant Shein in its stall at the Bazar de l'Hotel de Ville (BHV) department store in Paris on November 4, 2025, on the eve of the opening of its first physical store at BHV in Paris. (AFP)
This photograph shows the logo of Asian e-commerce giant Shein in its stall at the Bazar de l'Hotel de Ville (BHV) department store in Paris on November 4, 2025, on the eve of the opening of its first physical store at BHV in Paris. (AFP)

The French parliament on Monday passed a bill aimed at curbing the rise of fast fashion, targeting major Asian e-commerce platforms, such as Shein and Temu.

The legislation, first tabled two-and-a-half years ago, seeks to regulate so-called "ultra-fast fashion" companies, known for selling large volumes of lower quality clothing at rock-bottom price.

Easy to order and replace, fast fashion items contribute to pollution from the textile industry, which accounts for nearly 10 percent of global greenhouse gas emissions.

The Senate passed the bill Monday after the lower house National Assembly did last week.

It imposes a per-item fee for producing textile en masse that will increase over time, and a ban on advertising for ultra-fast fashion brands, including by social media influencers.

Lawmakers hope to rein in Asian e-commerce companies that have exploded in popularity in France in recent years.

Trade Minister Serge Papin last week said the bill would target the main players, including three companies, which he said are driving the surge in ultra-fast fashion.

"Their names, which were still unknown three years ago... are now on everyone's lips in France: Temu, Shein and AliExpress," he said at the time.

But some have criticized the legislation for sparing European and French companies, such as Zara and Kiabi, with some leftist lawmakers in both chambers abstaining during the vote.

Green Party lawmaker Charles Fournier said last week the original bill had been "considerably scaled back", arguing that brands, such as Zara and H&M "have not become models of sustainable fashion".

Stop Fast Fashion, a coalition of organizations, also criticized what it called as a "greatly watered-down" version compared to the one originally put forward.

- Advertising ban doubts -

Anne-Cecile Violland, the center-right member of parliament who proposed the bill, said they needed legislation that could be passed "very quickly and be operational".

"We're coming down very hard on Shein, and that's the first step," she told AFP, adding she understood the disappointment.

The legislation targets ultra-fast fashion based on two criteria: the volume of clothing placed on the market and the cost of repairing garments relative to their purchase price.

The per-item fee will vary on a set scale according to how each brand scores on both these standards.

The levy could reach up to 20 euros ($23) per item by 2030, though the cap remains at 50 percent of the product's pre-tax price.

Part of these penalties will go towards collection and recycling infrastructure.

The legislation also requires ultra-fast fashion companies to display messages on their websites promoting more moderate consumption, including reusing and repairing clothing.

A ban on advertising, including by influencers, is a central plank of the bill, though questions remain over how it could be enforced.

Fashion

Osaka Makes Spectacular Wimbledon Arrival in Kimono-Inspired Dress

Japan's Naomi Osaka arrives to play against France's Elsa Jacquemot during their women's singles first round tennis match on the first day of the 2026 Wimbledon Championships at The All England Lawn Tennis and Croquet Club in Wimbledon, southwest London, on June 29, 2026. (AFP)
Japan's Naomi Osaka arrives to play against France's Elsa Jacquemot during their women's singles first round tennis match on the first day of the 2026 Wimbledon Championships at The All England Lawn Tennis and Croquet Club in Wimbledon, southwest London, on June 29, 2026. (AFP)
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Osaka Makes Spectacular Wimbledon Arrival in Kimono-Inspired Dress

Japan's Naomi Osaka arrives to play against France's Elsa Jacquemot during their women's singles first round tennis match on the first day of the 2026 Wimbledon Championships at The All England Lawn Tennis and Croquet Club in Wimbledon, southwest London, on June 29, 2026. (AFP)
Japan's Naomi Osaka arrives to play against France's Elsa Jacquemot during their women's singles first round tennis match on the first day of the 2026 Wimbledon Championships at The All England Lawn Tennis and Croquet Club in Wimbledon, southwest London, on June 29, 2026. (AFP)

Japan's Naomi Osaka made a spectacular entrance at Wimbledon on Monday as she arrived on court in a kimono-inspired dress.

Osaka has become known for wearing flamboyant outfits before starting her matches and the four-time Grand Slam champion's Wimbledon costume was eagerly-awaited.

With fans and photographers crowded around Court Three prior to her Wimbledon first-round match against France's Elsa Jacquemot, Osaka didn't disappoint.

To match the All England Club's strict all-white dress code, the 28-year-old wore a kimono-style ceremonial dress decorated with embroidered cranes and cherry blossom.

She paired the white outfit with a traditional kanzashi hair ornament featuring white flowers before removing both to reveal a white Nike dress.

While much more conventional, the dress is inspired by kirigami, the Japanese art of paper cutting.

Osaka has worked with a range of fashion designers on her outfits, going for a jellyfish-modelled look at the Australian Open dedicated to her daughter Shai and a gold dress inspired by the Eiffel Tower at the French Open.

For Wimbledon, the former world number one collaborated with Japanese designer Hana Yagi, posting a video accompanied by the caption: "Culture".

Speaking to British Vogue, Osaka said: "I like to use fashion as a medium for storytelling.

"Every walk-out is an opportunity to bring people into my creative world. The fact that people care about it and are excited to see what's next is also pretty cool.

"Obviously, the outfit has to be white, but, aside from that, you can play with a lot of different design elements. In some ways, not having to think about the color allows you to highlight other cool features like fabrics and textures."

Osaka's longtime creative director Marty Harper said Wimbledon's traditions played a key role in the design of the outfit.

"It's one of the few places in sport where ceremony still feels inseparable from competition. We wanted to acknowledge that while creating a dialogue with Japanese ceremonial dress," he said.

"The starting point was the idea of evolving ceremony. The garment is constructed from vintage shiromuku, ceremonial garments originally created to mark important moments in people's lives."

Fashion

Heat Catches Europe’s Fashion Industry Unprepared as Models Face the Sun in Fur and Wool

A model presents a creation for Dior for the Menswear Spring/Summer 2027 collection fashion show as part of the Paris Fashion Week, in Paris on June 24, 2026. (AFP)
A model presents a creation for Dior for the Menswear Spring/Summer 2027 collection fashion show as part of the Paris Fashion Week, in Paris on June 24, 2026. (AFP)
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Heat Catches Europe’s Fashion Industry Unprepared as Models Face the Sun in Fur and Wool

A model presents a creation for Dior for the Menswear Spring/Summer 2027 collection fashion show as part of the Paris Fashion Week, in Paris on June 24, 2026. (AFP)
A model presents a creation for Dior for the Menswear Spring/Summer 2027 collection fashion show as part of the Paris Fashion Week, in Paris on June 24, 2026. (AFP)

The most coveted accessory at the Paris Fashion Week shows this week was not a bag, a sneaker or a watch. It was an ice pack.

As a historic heat wave gripped the French capital, fashion houses fought to keep guests cool with mist machines, chilled towels, parasols and iced Evian on silver platters.

It wasn’t enough. Historic venues sweltered, guests were packed in tight, air conditioning was absent or inadequate and water ran short — at one house, organizers weighed serving none at all, having found only plastic bottles to hand out.

That mattered because Paris Fashion Week is not a minor cultural event.

It is one of France’s most visible export machines: six fashion seasons a year, global luxury houses, celebrities, editors, buyers and clients moving through an industry worth billions, often inside aging venues built for a cooler age.

This week raised a harder question: whether Paris should keep staging menswear and haute couture in the height of summer at all if climate change keeps bringing more frequent and intense heat waves.

“I honestly thought I was going to pass out,” said Ben Freeman, a London-based fashion critic from Australia.

Paris neared 41 degrees Celsius (106 Fahrenheit) during a heat wave that pushed France into emergency mode. Large parts of the country were under red alert, and hospitals were told to prepare for more heat-related cases.

Like the dusty Louvre, which cut hours and said its historic building “remains vulnerable and is not sufficiently adapted to climate change,” fashion week exposed a Paris problem as much as a fashion one: how to keep prestige institutions running when the weather no longer fits the building, the calendar or the crowd.

“Paris Fashion Week is the canary in the mine,” Freeman said.

The deeper contradiction was on the runway. At a Paris Fashion Week Men’s where the industry paid to imagine next summer could barely survive this one, houses cooled the people watching the shows, then dressed their models in unseasonable leather, neoprene, wool and fur.

“The calendar does not make any sense,” acknowledged Dior’s Jonathan Anderson, blaming fractured delivery cycles and a business that bears no relation to the season outside.

Some in the front row suggested that fashion week in the hottest months be scrapped.

“In Paris we don’t have AC everywhere, it’s quite rare,” said Thomas Levy, 24, a fashion student outside one show. “I don’t know how the models did it this week in some of the leather and knit coats."

The venues couldn’t cope

Pascal Morand, who heads France’s fashion federation, said organizers were following the government’s heat-wave plan.

“We are conscious of the challenges and very attentive to preserving the Fashion Week experience in this context of structural change,” he told The Associated Press.

The cause ran deeper — an industry whose fixed parts, from the buildings to the clothes, were designed for a cooler world and a customer who lives somewhere else.

The response included earlier shows, more water, more mist, more shade.

Fashion had already been warned about heat management. In March, Celine built an okoumé-wood pavilion in the courtyard of the Institut de France for a winter show, packed guests inside and still saw some leave because of the temperature.

Dior shifted its show to 9 a.m. from mid-afternoon, and Rick Owens moved his forward too. Yet inside Dior’s half-renovated mansion, water was scarce, there was no air conditioning, and some guests looked ready to pass out.

The strain had already shown at Milan Fashion Week last week. At Thom Browne’s first show there, giant misting fans ran and black umbrellas went out as guests waited out the midday sun.

Runways out of season

The clothes were made not for summer in Paris but for global markets and customers who pass the hottest months in refrigerated air. For them, a wool coat in June is not a contradiction. It is just a purchase.

Louis Vuitton presented wetsuits in neoprene, as well as coats in cashmere and fur.

At Saint Laurent, Anthony Vaccarello sent models through cooling clouds of vapor from a Fujiko Nakaya fog sculpture, then ran hot and cold at once: featherweight, unlined tailoring stripped down for the heat, against leather briefs, choker scarves and transparent shoes fogging with the wearer’s sweat.

Issey Miyake’s IM Men gave the clearest practical answer, handing out ice packs at the door, then bamboo-thread fabrics and shadowy prints that moved with the air rather than against it.

Rick Owens made the anxiety literal, sending models through mist in garments with fans whirring inside. One critic called it metaphor for climate catastrophe.

France’s uneasy cooling debate

Air conditioning remains culturally suspect in France — blamed for sore throats, dismissed as wasteful or bad for the planet — even as heat waves turn cooling into a question of public safety.

President Emmanuel Macron’s government leans toward shade, insulation and trees; environmentalists warn that mass cooling would only deepen the emissions driving the heat.

Europe is the fastest-warming continent, but its old cities are short on the cooling a hotter climate demands. From sport to tourism to construction, industries built around fixed calendars and outdoor crowds are being forced to adapt to heat that comes earlier, lasts longer and climbs higher.

The question is how much longer an aging 19th century Paris can host a summer spectacle where guests need ice packs to reach the finale.