Kering
Note: This is a daily stock update and the information stands true as of 09/10/24, 09:00 CET.
Company Update:
Expert Opinion:
Yet another change at the management of Gucci. While we have no a priori regarding Mr. Cantino, the decision to change the top management demonstrates how difficult the situation at Gucci is. The new collection doesn’t seem to be as successful as we expected. I don’t see any reason to buy Kering despite the abysmal share performance as long as we have no sign of recovery at Gucci, the group’s flagship. Gucci still trades with a PE of 16.6x in 24 and 25 and 15.7x in 2026.
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Company Update:
Kering announced the appointment of Stefano Cantino as CEO of Gucci, effective January 1, 2025. Cantino, who joined Gucci in May 2024 as Deputy CEO, will report to Francesca Bellettini, Kering's Deputy CEO, and will join Kering’s Executive Committee. He will succeed Jean-François Palus.
Before joining Gucci, Cantino spent five years at Louis Vuitton, overseeing Communications and Image, and prior to that, he worked for 20 years at the Prada Group.
Expert Opinion:
Yet another change at the management of Gucci. While we have no a priori regarding Mr. Cantino, the decision to change the top management demonstrates how difficult the situation at Gucci is. The new collection doesn’t seem to be as successful as we expected. I don’t see any reason to buy Kering despite the abysmal share performance as long as we have no sign of recovery at Gucci, the group’s flagship. Gucci still trades with a PE of 16.6x in 24 and 25 and 15.7x in 2026.
For daily updates, subscribe to our newsletter and for detailed daily updates, reach out to us at sales@alphavalue.eu
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Alphavalue Morning Market Tip
Solid start of 2025 with signs of recovery in key markets.