Kering – empowering imagination
Who we are
• A family-controlled, listed company, Kering is a world leader in apparel and accessories, which develops an ensemble of powerful brands
• Focused on a single business, we design, manufacture and market desirable products across two fast growing segments:
- Luxury: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, Stella McCartney, Sergio Rossi, Boucheron, Dodo, Girard-Perregaux, JEANRICHARD, Pomellato and Qeelin
- Sport & Lifestyle: Puma, Volcom, Cobra, Electric and Tretorn.
• Our brands are complementary and all enjoy strong potential for organic growth. They have global recognition, are deep rooted and true to their distinctive values
• Our mission is to allow our customers to express, fulfil and enjoy themselves through our products. This is in line with underlying societal trends: increases in purchasing power, people seeking to affirm their personality and the desire to look and feel good.
• We also have a duty to look after our teams as much as we look after our customers.
• Kering strategy is primarily based on the organic growth of our current (Luxury and Sport & lifestyle) brands: to expand into new markets, reinforce their presence in mature markets and develop their distribution network and channels, including e-commerce
• Acquisitions of small to medium size, with promising expansion prospects and meeting strict criteria, will strengthen and complement the brand portfolio
• This is how we create value in the broadest sense. We encourage the creativity and agility of our brands by empowering them to go beyond their limits, to lead and innovate, to realise their artistic and financial potential – in the most sustainable manner.
The ‘Kering effect’
• We harness Group power and expertise in the service of each of our brands to accelerate their expansion and internationalisation – ‘the Kering effect’
• We ensure control of the value chain and provide brands with financial firepower, business expertise, common resources and financial discipline, which ensures they do so profitably
• We effect synergies within each division and optimise best practices and knowledge-sharing across all brands
Operational style – ‘freedom within a framework’
• Each of our brands enjoys a high degree of autonomy and responsibility to preserve its creative freedom, its product and sourcing strategy, and its distinct image and positioning
• At the Group level, we set out guidelines under which the brands operate. We provide back-office services that are more efficiently carried out at a shared level, and we ensure consistency across operations.
Sustainable business is smart business
• Sustainability for Kering is both a business and a leadership opportunity. Inherent in the quality of our products, sustainability gives us the opportunity to create value and competitive advantage.
• We propel our brands to lead with new business models that contribute to a better world economically, socially and ecologically
• In line with our engagement with solidarity initiatives, we continue to support the Kering Foundation, which combats violence against women and promotes their empowerment.
• Having made digital a strategic, CEO-level priority, we have created an e-business unit at Group level to share best digital practice, speed up our brands’ e-business projects and increase their digital presence
• To develop the e-commerce of a number of its brands, Kering has teamed up with Yoox, a leading online luxury business. The joint-venture, E_lite, is improving existing e-commerce sites, accelerating global e-commerce development and offering an exclusive online shopping experience.
• In 2011, Kering launched the Digital Academy to instil a digital culture within the Group, to develop innovation, support our e-business and digital ambitions, strengthen digital awareness and expertise, and create an international digital community.
• Group revenues of €9.7 billion, operating income of €1.8 billion in 2012
• 38% of revenue generated in emerging markets
• Kering brands are distributed in more than 120 countries
• 33,000 employees at the end of 2012
A word on our new name
Since 2005, the Group has been transforming itself from a diverse conglomerate into a cohesive, integrated group. Following the disposal of Redcats’ businesses, in a few months’ time the Group will have withdrawn completely from the mass distribution sector. Our new name, Kering, stands for more than a change in scope or activity. It portrays the way we take care of our businesses, people, customers and stakeholders – as well as the environment. We spot opportunities, we nurture talent and we empower our brands and teams to fulfil their potential.