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The Pale Kering

News and notes on the De Sarno sitch at Gucci, Kering’s executive shuffle, and where Blazy might land.

Stefano Cantino, Sabato De Sarno, François-Henri Pinault
Gucci is trying to pull off a difficult gambit in a dishy industry where perception and reality often, but don’t always, overlap. Photo: Charley Gallay/Getty Images for LACMA
Lauren Sherman
November 21, 2024

The other day, I read the musings of Oliver Chen, an analyst at TD Cowen whom I’ve known for years, following his conversation with Claire Roblet, Kering’s director of financial communication and market intelligence—the conglomerate’s liaison to the financial world. Roblet had shared some insights about Gucci with Chen, who subsequently disseminated them, along with his own observations, in a note to investors. “On a scale of 1-10 (10 is best), management rated the health of the U.S. consumers a 6/7, European  consumers a 5, and Chinese consumers a 4,” Chen wrote.