Kering chief vows rapid overhaul after sealing €4bn beauty deal
Luca de Meo says agreement with L’Oréal will be first of several big moves to refocus luxury group on Gucci turnaround
Luca de Meo says agreement with L’Oréal will be first of several big moves to refocus luxury group on Gucci turnaround
Deal includes rights to develop products under Gucci, Bottega Veneta and Balenciaga labels
Sale represents first big restructuring move by chief executive Luca de Meo
Sales at luxury group’s biggest brand Gucci have fallen sharply in an industry-wide downturn
Gucci owner reports better than expected 5% drop in third quarter sales in first set of results under new CEO
Challenges at luxury group’s biggest brand underscore the challenge facing new boss Luca de Meo
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