Armani Talks Succession at 1st Live Show Since Pandemic

A model wears a creation as part of the Giorgio Armani men's Spring Summer 2022 collection, in Milan, Italy, Monday, June 21, 2021. (AP)
A model wears a creation as part of the Giorgio Armani men's Spring Summer 2022 collection, in Milan, Italy, Monday, June 21, 2021. (AP)
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Armani Talks Succession at 1st Live Show Since Pandemic

A model wears a creation as part of the Giorgio Armani men's Spring Summer 2022 collection, in Milan, Italy, Monday, June 21, 2021. (AP)
A model wears a creation as part of the Giorgio Armani men's Spring Summer 2022 collection, in Milan, Italy, Monday, June 21, 2021. (AP)

Giorgio Armani hinted at his succession plans on Monday as he staged his first live runway show since the pandemic, and following a fall that landed him the hospital for two weeks.

The 86-year-old designer has usually demurred from answering questions about the future of his fashion empire, but the issue seems to have pushed to the forefront after a bad fall that fractured his left humerus, requiring 17 stitches and hospitalization.

With a menswear show to prepare for, he relied on Pantaleo (Leo) Dell’Orco, who joined Armani in 1977 and heads menswear for all of Armani’s collections: Giorgio Armani, Emporio Armani and Armani Exchange.

“With time, he has become more mature, and stubborn,” Armani quipped.

Citing Dell’Orco and his niece Silvana Armani, who fills the same roles for womenswear, Armani said, “I am preparing my future with the people around me,” he said.

Armani took his bow at the end of the show on the arm of Dell’Orco, who helped him down the stairs to the runway.

“If I am a little uncertain, this is why,” he said backstage, showing off a long scar on his left arm.

Armani said he had been eager to go to the movies after winter restrictions and went to the cinema when they were lifted some 20 days ago. Coming out of the theater, two people were sitting on the stairs blocking his passage, and Armani’s bodyguards didn’t manage to stop him in time.

“I didn’t find the step, and I fell,” Armani said. “I won’t tell you how painful it was.”

Nonetheless, he managed to help prepare for the menswear show as well as an Armani Prive couture collection, which will be shown in Paris later this month.

This was Armani’s first live show since Italy became the first country in the West to detect local transmission of the virus in February 2020. And those 15 months ago, he was the first designer to close his theater to an audience during the Milan Fashion Week of womenswear previews that was under way when the first case was disclosed just an hour from Milan.

“Digital is necessary,” Armani said, especially to reach people who still cannot travel to the shows and to promote the collection. “But it doesn’t take the place of a real runway show, seeing the textiles and how the models move.”

Armani titled his spring-summer 2022 collection “Back to where it started,” a homage to his original atelier and garden where the show took place — and where he lives upstairs.

The collection was full of easy-going looks in navy, white and sand for casual get-togethers at the seaside or a garden party.

Navy blazers were paired with loose white trousers and shirts with baseball collars; or conversely a white bomber in technical fabric gave a sporty flair to navy pants. A flash of fuchsia on a men’s shirt beneath an electric blue Bermuda short suit won a round of applause. Collarless linen shirts in a sandy shade were set off by red stripe accents, and worn with sea-green or fuchsia Bermuda shorts. Rounded collars peeked out of cardigans, while footwear was mostly casual loafers or slip-on sneakers.

Armani closed the collection with more somber silky looks, and a handful of models wearing masks. These were no casual addition.

“It means be careful. I don’t think this is over,” he said. “Don’t get excited and say, ‘It’s over,’ because it just takes a little bit to plunge into the abyss.”



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."


Kering Shares Slide After Gucci Sales Disappoint

A logo of fashion house Gucci is seen outside a shop in Paris, France, April 15, 2024. (Reuters)
A logo of fashion house Gucci is seen outside a shop in Paris, France, April 15, 2024. (Reuters)
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Kering Shares Slide After Gucci Sales Disappoint

A logo of fashion house Gucci is seen outside a shop in Paris, France, April 15, 2024. (Reuters)
A logo of fashion house Gucci is seen outside a shop in Paris, France, April 15, 2024. (Reuters)

Kering shares plunged as much as 10% on Wednesday after first-quarter sales at its Italian flagship brand Gucci dropped more than expected, underlining the challenges in reviving the brand's appeal.

Gucci sales fell 8%, the 11th straight quarterly decline, as the Iran war weighed on spending by Middle Eastern shoppers and curtailed international travel.

Shares ‌were down ‌8.5% to 255 euros at ‌0827 ⁠GMT and on ⁠track for their steepest daily decline in more than a year.

The result came days before Kering CEO Luca de Meo is due to unveil his strategic plan to turn around the 33-billion-euro ($39 ⁠billion) group's fortunes.

"While guidance was ‌confirmed, the timeline ‌for a Gucci turnaround remains uncertain and likely ‌gradual, against a challenging macro backdrop and ‌ongoing geopolitical tensions," Citi analysts wrote.

Like larger peers LVMH and Hermes, Kering is facing deteriorating demand from customers impacted by the conflict in the ‌Middle East.

Kering said it had seen strong demand for Gucci ⁠products ⁠in North America, but JPMorgan analysts said this was likely a trend for all luxury brands, rather than just Gucci, and pointed to double-digit declines in all other regions.

"This suggests, in our view, that the turnaround will take a lot longer, and much more work, than the bulls would hope for," they said.

Kering shares are down around 7% so far in 2026.


Texas Attorney General Probes Lululemon over Potential 'Forever Chemicals'

FILE PHOTO: A Lululemon sign is seen at a shopping mall in San Diego, California, US, November, 23, 2022.  REUTERS/Mike Blake//File Photo
FILE PHOTO: A Lululemon sign is seen at a shopping mall in San Diego, California, US, November, 23, 2022. REUTERS/Mike Blake//File Photo
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Texas Attorney General Probes Lululemon over Potential 'Forever Chemicals'

FILE PHOTO: A Lululemon sign is seen at a shopping mall in San Diego, California, US, November, 23, 2022.  REUTERS/Mike Blake//File Photo
FILE PHOTO: A Lululemon sign is seen at a shopping mall in San Diego, California, US, November, 23, 2022. REUTERS/Mike Blake//File Photo

Texas Attorney General Ken Paxton has launched an investigation into athleisure brand Lululemon over the potential presence of "forever chemicals" in its activewear, he said on Monday in a post on social-media platform X.

The probe will examine whether Lululemon's athletic apparel contains PFAS, which the brand's health-conscious customers would not expect based on its marketing, Paxton said. PFAS, or per- and polyfluoroalkyl substances, are a group of widely used materials called "forever chemicals" because they do ⁠not break down easily ⁠in nature.

"Lululemon does not use PFAS in its products," a company spokesperson said, adding it phased out the substance in fiscal 2023, after limited use in durable water repellent products.

According to Reuters, Attorney General Paxton said emerging research and consumer concerns have raised ⁠questions about whether certain synthetic materials in the apparel could be linked to endocrine disruption, infertility, cancer and other health risks.

PFAS are associated with harmful health effects in humans and animals, according to the US Environmental Protection Agency.

The Office of the Attorney General will examine Lululemon's testing protocols, restricted substances list and supply chain practices against state safety standards.

"If Lululemon has violated Texas law, it will be ⁠held accountable," Paxton ⁠said in his post.

The company spokesperson said they are aware of the inquiry and are cooperating.

Earlier this year, the company had to pull its "Get Low" workout collection from its website following user complaints, only resuming online sales after addressing the issues.

Lululemon, which appointed a former chief of jeans maker Levi Strauss to the board last month, has forecast weak annual results amid tepid demand and an ongoing proxy fight with its founder.