François-Henri Pinault sits at the top of one of the world’s biggest luxury conglomerates, owner of Gucci, Alexander McQueen, Balenciaga and Puma, among others. And it has been a good year for the group: revenue rose 23.3% to €3.9 bn (£3.4bn) in the third quarter of 2017, driven in part of the continued success of Gucci and increased demand from China’s luxury shoppers.
Powerhouse label Gucci has been a standout performer and like-for-like sales continued to soar, up 49.4% in the third quarter. Kering has also been boosted by excellent performances from both Saint Laurent under new creative director Anthony Vaccarello, and Balenciaga’s return to form under its new creative director Demna Gvasalia.
In October, Gucci announced it would be banning fur products from all future collections, and in September, Kering joined forces with LVMH to ban the use of ultra-thin models, saying designers could no longer use size 32 models under the French system – the equivalent of size XXS, size zero in the US or size 4 the UK.