Kering-owned Swiss watch brands Ulysse Nardin and Girard-Perregaux said on Monday they were cutting about 100 jobs, or a quarter of their total workforce, after sales were hit by the coronavirus crisis.
Kering, one of the largest luxury groups on the planet, has made financial commitment to fight racism, with contributions to the NAACP and to Campaign Zero – following eight days of protests in multiple American cities.
Kering, the world’s second largest luxury conglomerate, has decided to postpone its annual shareholders meeting, the latest major publicly quoted company in fashion to delay its ASM in the wake of coronavirus.
The new watch industry show, promoted by a pool of brands led by Bulgari CEO Jean-Christophe Babin, and initially scheduled in Geneva for the end of April, will be held on August 26-29 due to the Covid-19 pandemic.
The news published by Bloomberg about a possible takeover of the down jacket label by the French luxury group fuelled plenty of speculations. FashionNetwork.com analyses the operation’s potential impact.
Last week-end, at the Atelier Richelieu in Paris, the French luxury group brought together 80 developers and high-tech experts for a hackathon themed around software solutions dedicated to sustainable fashion.
Few Italian luxury brands have weathered the long global slowdown as well as Ermenegildo Zegna, which has just posted excellent results for 2017, despite a period of growing competition in high-end menswear.