Business · Companies · 2 hrs ago
Kering sets out a five-year plan to revive Gucci and regain luxury growth
Kering is the French luxury group that owns Gucci and other brands, including Yves Saint Laurent, Balenciaga and Bottega Veneta.
Luca de Meo took over as the group’s chief executive in September 2025 after leading Renault from 2020 to 2025.
Kering’s sales fell 13% in 2025, while Gucci sales dropped 22%; Gucci accounts for 40% of the group’s business.
In April 2026, De Meo presented a five-year plan called Reconkering to address the decline and put what he calls “true luxury” at the centre of the strategy.
The plan aims for a return to growth in 2026, rebuilding by 2028 and a renewed push for leadership by 2030.
Kering also plans to close 250 of its 1,700 stores worldwide as part of efforts to improve its finances.
Its first-half 2026 revenue rose 1%, and Gucci’s sales decline eased from 14% in the first quarter to 3% in the second.
Kering has set out a five-year plan called Reconkering to revive Gucci and return the group to growth.
Chief executive Luca de Meo presented the plan in Florence on 16 April 2026.
The plan puts “true luxury” at the centre of Kering’s strategy and sets out three phases through 2030.
Kering plans to close 250 of its 1,700 stores worldwide as part of a financial restructuring.
The group’s first-half results exceeded expectations, while Gucci’s sales decline slowed in the second quarter.
- Who
- Kering, led by chief executive Luca de Meo.
- What
- The group has launched a five-year plan to revive Gucci and restore growth.
- When
- De Meo presented the plan on 16 April 2026; its final phase is set for 2030.
- Where
- The plan was presented in Florence, where Gucci was founded and is headquartered.
- Why
- Kering is seeking to address a prolonged crisis and Gucci’s decline, which has weighed on group sales.
This story does not have two clearly opposing sides.
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In short, a model that worked for a decade is no longer effective.
De Meo was named to lead Kering.
De Meo took over as the group’s chief executive.
De Meo presented Kering’s transformation plan in Florence.
Kering reported first-half results above expectations, and Gucci’s sales decline eased in the second quarter.
- Plan
- Reconkering, a five-year strategy
- Presentation
- Florence, 16 April 2026
- Store closures
- 250 of the group’s 1,700 stores
- Gucci’s share of group business
- 40%
- 2026 group sales
- Down 13%
- 2026 Gucci sales
- Down 22%
Sources
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