Kering’s Most Important Earnings in Years

Kering executives probably want to pretend the last few months of 2022 never happened. Balenciaga became mired in scandal over the brand’s ties to Ye and a widely condemned campaign that posed BDSM-inspired objects with children. Alessandro Michele left Gucci, where growth continues to lag other big luxury labels. Sales for many luxury brands were dismal in China amid a surge in Covid cases. Kering doesn’t break out Balenciaga’s sales publicly – or its brands’ revenues in China, for that matter – but the impact will be hard to hide in fourth-quarter and annual results due out on Feb. 15.

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