According to newly filed documents with France’s financial markets regulator, U.K.-based hedge fund Parvus Asset Management has increased its stake in luxury group Kering to approximately 5%. Known for its activist investment style, Parvus has a history of influencing major European companies, often entering during periods of undervaluation and pushing for management or structural changes. The move comes as Kering undergoes a turbulent transition. Its flagship brand Gucci has issued multiple profit warnings in recent years, while executive and creative team shakeups have contributed to a more than 60% decline in Kering’s share price since 2021. The fund’s involvement adds uncertainty ahead of the arrival of Luca de Meo, who is set to take over as Kering’s CEO in September 2025.