France : Kering sets up 'Luxury - Couture & Leather Goods' division

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Kering sets up 'Luxury - Couture & Leather Goods' division

25
Apr '14

Kering announces that it is setting-up, effective May 2014, a ‘Luxury – Couture & Leather Goods’ division and a ‘Luxury – Watches and Jewelry’ division, both reporting to François-Henri Pinault, Chairman & CEO of Kering.

Marco Bizzarri is appointed CEO of the ‘Luxury – Couture & Leather Goods’ division and Albert Bensoussan is appointed CEO of the ‘Luxury – Watches and Jewelry’ division. Gucci, under the responsibility of its Chairman & CEO, Patrizio di Marco, remains under François-Henri Pinault’s direct supervision.

To foster the continuing expansion of Kering’s Luxury business, resulting from both its organic growth and the acquisitions completed in 2012 and 2013, the Group is putting in place a more specialized steering of its activities. This will strengthen the monitoring and focus the business expertise and resources that the Group makes available to its brands to accelerate their development. This realignment will be carried out with full respect for the autonomy of each of Kering’s brands, which will remain under the operational responsibility of their respective CEOs.

In the ‘Luxury – Couture & Leather Goods’ division, the CEOs of Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier and Sergio Rossi report to Marco Bizzarri. He remains President of Bottega Veneta, awaiting the imminent arrival of a new CEO for the brand.

In the ‘Luxury – Watches & Jewelry’ division, the CEOs of Boucheron, Girard-Perregaux, JeanRichard, Pomellato, Dodo and Qeelin report to Albert Bensoussan.

Patrizio di Marco, Marco Bizzarri and Albert Bensoussan are members of Kering’s Executive Committee.

François-Henri Pinault remains Chairman of the Board of Saint Laurent. ‘Saint Laurent is at a pivotal moment in its history and reform as undisputed reference for Parisian elegance’, noted François-Henri Pinault. ‘Retaining its Chairmanship ensures the preservation of the unique individuality and positioning of this historical French Couture House.’

Having successfully fulfilled his mission, Alexis Babeau, Managing Director of the Luxury Division since March 2011, wished to take his career in a new direction and to leave the Group. François-Henri Pinault declared: ‘I would like to thank Alexis most warmly and to pay tribute to his decisive role, firstly at Gucci Group, then at Kering, in the development of our luxury brands, whose growth has been particularly dynamic these last few years. Alexis played a key role in identifying and implementing operational synergies between our brands, while maintaining the creative independence that makes each of them unique.’

François-Henri Pinault added, “I am delighted by the appointment of Marco Bizzarri and Albert Bensoussan to their respective new roles. They will give the ‘Luxury – Couture & Leather Goods’ division and the ‘Luxury – Watches & Jewelry’ division the benefit of their outstanding experience and expertise.

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