Kering SA

French luxury group Kering confirmed a broad recovery in sales of high-end goods in the third quarter as strong Asian and U.S. demand helped revenues improve, though its star Gucci brand underperformed rivals.

Kering-owned Swiss watch brands Ulysse Nardin and Girard-Perregaux said on Monday they were cutting about 100 jobs, or a quarter of their total workforce, after sales were hit by the coronavirus crisis.

French luxury group Kering said on Tuesday second-quarter comparable sales plunged by 43.7% due to the COVID-19 pandemic, adding it could not provide a forecast for the second half of the year despite an encouraging recovery in Asia.

French luxury group Kering said second-quarter comparable sales had plunged by 43.7% due to the coronavirus pandemic, adding it could not provide a forecast for the second half of the year despite an encouraging recovery in Asia.

François-Henri Pinault, the French billionaire chairman and CEO of luxury goods group Kering , has agreed to a pay cut in the latest example of top executives accepting lower salaries as a gesture of solidarity during the coronavirus crisis.

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European shares edged lower on Friday, as Brexit woes and Anheuser-Busch InBev's forecast of moderate annual profit growth offset strong sales from luxury goods makers.

Gucci, the luxury brand that powers most of parent Kering's profits, made its first steps in high-end jewellery on Tuesday with a dedicated store in Paris - part of its bid to expand its reach after a blowout fashion makeover.

Kering, owner of brands including Gucci, will tighten its grip on its e-commerce operations, focusing on its own branded sites to sell its luxury products or ventures where it can control its image and client data.

Italy's Ferrero is famous for its red-and-white Kinder chocolate eggs. But soon it may hope to be able to slap more green on the wrapper.

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French luxury goods group Kering said on Thursday it had agreed to a 1.25 billion euro ($1.40 billion) settlement to draw a line under a dispute with Italian tax authorities centered on its fashion brand Gucci.

French luxury group Kering is close to agreeing to pay between 1.3 billion and 1.4 billion euros ($1.5-1.6 billion) to settle a dispute with Italian authorities over unpaid taxes by its fashion brand Gucci, three sources told Reuters on Thursday.

The family of French billionaire businessman Francois-Henri Pinault said it would not be seeking any tax breaks regarding its 100 million euros ($113 million) donation for repair work to the city's damaged Notre-Dame Cathedral.

Kering is facing an Italian claim for 1.4 billion euros in unpaid taxes, the French luxury goods group disclosed on Friday, adding that it contested the preliminary findings.

* Luxury industry shifting more revenue online (Adds YNAP statement, JV sale option)

French luxury goods group Kering announced new measures to step up its digital and e-commerce presence, which is among its fastest growing areas, including new partnerships with Apple Inc..