Industry

Kering CEO Luca de Meo set out an ambitious ‘ReconKering’ plan to more than double the group’s operating profit margin by 2030, with Gucci’s revival at the centre. Markets were unimpressed: shares fell 3.9%.

Hermès Q1 revenues reached €4.1bn, up 6% at constant exchange rates. Leather goods led all divisions at +9.4%, driven by new introductions and strong Americas demand — while Middle East disruptions and currency headwinds clouded the overall picture.