Kering hit by Italy-wide strike over strategic plans
Italy’s largest unions have called a nationwide strike on May 20 across all Kering operations in Italy, citing a lack of clarity over the French luxury group’s strategic direction. The move follows management’s refusal to discuss the “ReconKering” reorganization plan and comes amid 54 job cuts at Alexander McQueen. Kering — parent of Gucci, Saint Laurent, and Bottega Veneta — confirmed the redundancies while emphasizing its commitment to dialogue. CEO Luca de Meo’s strategy targets doubled profit margins, streamlined retail operations, expanded jewelry offerings, and full brand profitability within two years.
Related reading: Kering chief De Meo targets higher profitability, Gucci rebound