Kering plans Gucci turnaround

CEO Luca de Meo announced a complete structural reset that will focus on refreshing Gucci's creative direction and product lineups to win back Gen Z shoppers.

The luxury sector has been hit hard by a global slowdown in spending and the economic fallout from the Iran war.

Kering's plan includes restoring financial discipline and improving operational efficiency across its portfolio.

Investors have reacted cautiously to the news, as leading luxury stocks like Hermès and Gucci have seen their share prices tumble in recent weeks.