The French luxury group, owner of brands such as Gucci, Balenciaga and Saint Laurent, entered last Monday the Euro Stoxx 50 index, which encompasses the fifty largest listed stocks in the Eurozone by free-float market capitalization.
Kering gains power in the stock exchange. The French luxury group, owner of brands like Gucci and Balenciaga, has entered the Euro Stoxx 50 index, which encompasses the fifty largest listed stocks in the Eurozone by free-float market capitalization.
“This symbolic step illustrates the relevance of our development model”, said chairman and chief executive officer François-Henri Pinault in a statement. “It demonstrates the confidence of the market in our ability to achieve profitable, sustained and consistent organic growth.”
Kering’s entrance in the Euro Stoxx 50 takes place thirty years after the company was listed on Euronext Paris. In 1995, the group joined the CAC 40 index, which comprises the forty largest listed stocks in Bourse de Paris.
Kering was listed on Euronext Paris in 1988, while it joined the CAC 40 index in 1995
Ten days ago, the Pinault family broaden its portfolio by taking over Courrèges through its investment firm Artémis. Until then, the society just controlled a 40% stake in the business.
Kering ended first half of fiscal 2018 with revenues of 6.43 billion euros, up 26.8% year-on-year. The group’s net profit tripled in the same period to 2.36 billion euros.