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Kering is still planning to set up a Gucci megastore in Paris's Place Vendôme district.
Kering is still planning to set up a Gucci megastore in Paris's Place Vendôme district. © Studio Pachamama

Spotlight | France
Kering looks to cut Gucci losses with sale of Vendôme quarter flagship building

Two years after acquiring four buildings for nearly €800m in Paris's Place Vendôme district, Kering still plans to open a giant Gucci store there. But the François-Henri Pinault-led luxury group wants to sell the properties to cut costs and keep only a minority stake.
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Switzerland
Preparing his succession, Johann Rupert brings entire family into holding company that controls Richemont

Officially, only two Rupert family members, CEO Johann Rupert and his son Anton, control the Swiss company that holds the family's stake in the Swiss luxury giant. In fact, thanks to a complex financial set-up, the entire clan are now shareholders in the holding company, consolidating their hold on Richemont and providing Anton with family backup should he succeed his father.
LogoSubscribers only 07.11.2024
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