As luxury giants continue to snap up the world’s top brands, could the latest move be Kering preparing to buy Moncler? It could be if news reports are to be believed, although neither company has commented.
Despite disruption in Hong Kong, Kering recorded a positive Q3 with revenue up by 14%, driven by strong performances by Gucci, Bottega Veneta and Saint Laurent, as the luxury group’s share price soared last Friday.
Sales growth at Kering slowed slightly in the third quarter, in line with expectations, as the luxury group offset some of the hit from turmoil in Hong Kong with strong spending by shoppers in other Asian markets.
The company set up from scratch in 2014 by luxury group Kering, the industry’s first to internalise its eyewear business, is about to top the €500 million revenue mark, and says it isn’t interested in Safilo.
Daniel Lee staged his second runway show for the famed Venetian house on Thursday night, building a set that riffed on the key essential of BV – intreccio leather – which the designer has revived as an object of cool.
Milan Fashion Week starts on Tuesday 17 with an exciting calendar featuring new names like Boss and Peter Pilotto; a host of Chinese designers and emerging talent; and Italy’s leading labels, except for Roberto Cavalli.