François-Henri Pinault, CEO of the French luxury conglomerate, explained to the shareholders that the introduction of new technologies will make resources available to focus on business planning.
Kering takes steps towards digitalization. In the latest presentation, François-Henri Pinault,
CEO of the French luxury conglomerate, explained to the shareholders that the group will introduce artificial intelligence in its processes.
“We are in a production phase, that is to say we are using artificial intelligence techniques through the use of algorithms, not only for client relations to improve the pertinence of our messages and client relations, but also in other areas, in particular for planning our future needs,” explained the manager. Pinault underlined that the introduction of new technologies in the group processes will free up resources to focus on business planning, which will provide them a great competitive advantage over other companies in the segment.
The executive added that he is satisfied with the results obtained so far since the implementation of technology within Kering. “There has been a significant difference in efficiency,” explained Pinault.
In addition, the company is undergoing a full process of digital transformation that involves enhancing its e-commerce platforms, logistics infrastructures and information systems, as well as integrating new technologies, including AI, into operational models.
The French luxury holding boosted its sales by 21.7% in the first quarter of the fiscal year, up to 2.32 billion euros. The company closed the first three months of the year following the same trend as that observed at the end of fiscal year 2018, when it registered a 26.3% rise and took its sales to 13.66 billion euros.