Kering CEO Luca de Meo has ruled out selling Alexander McQueen and will instead restructure the loss-making label through store closures, cost cuts, and a return to tailoring. Speaking at Kering’s annual earnings event, the company said McQueen — which dropped “Alexander” from its name in 2024 — had expanded beyond its market position, operating 135 directly owned stores. Sneakers once accounted for 80% of sales, exposing the brand when demand softened. The overhaul includes closing more stores, restructuring McQueen’s London HQ and Italian operations, and refocusing on ready-to-wear under artistic director Sean McGirr.

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