Skip to content
Subscriber Only

Kering to Reorganize Luxury Unit as Division Head Leaves Company

Kering SA said it will reorganize its luxury division after its managing director stepped down, while reporting a 1.2 percent gain in first-quarter sales as revenue at its Gucci business slowed.

Revenue rose to 2.4 billion euros ($3.32 billion), Paris-based Kering said late yesterday. Analysts predicted 2.37 billion euros. Luxury sales advanced 6.3 percent, excluding acquisitions and currency fluctuations, topping the 6.2 percent median estimate.