Gucci-owner Kering pledges to double profit margin from current level
16/04/2026 06:30
PARIS, April 16 (Reuters) - Gucci-owner Kering pledged on Thursday to double its recurring operating profit margin from 11.1% last year over the medium-term as it unveiled a new strategic plan aimed at reviving growth and desirability after years of underperformance. The plan will be presented by CEO Luca de Meo later on Thursday. Kering also said that it would seek to fully restore the group's fundamentals by the end of 2028. Quarterly sales at Gucci continued their slide going into this year, Kering said on Tuesday. Doubling its operating returns would bring Kering closer in line with industry peers. The French group at its peak in 2022 saw an operating margin of 27.5%, mainly driven by a boom at star brand Gucci under former designer Alessandro Michele. (reporting by Tassilo Hummel ) ((tassilo.hummel@thomsonreuters.com))