Kering restructures to focus on luxury goods

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Luxury jewellery division introduced to support brand development.

Luxury conglomerate Kering, that controls jewellery brands Boucheron, Pomellato and Dodo, has announced plans to focus its efforts on luxury goods by setting up a luxury watches and jewellery division, reporting to chairman François-Henri Pinault.

The move has been devised to foster the continuing expansion of Kering’s luxury business following organic growth and acquisitions completed in 2012 and 2013, according to an official press release. The Group is now focusing on steering its activities and accelerating brand development.

However, the Group promises planned changes will be made in “full respect for the autonomy of each of Kering’s brands, which will remain under the operational responsibility of their respective CEOs.”

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The chief executive officers of Boucheron, Girard-Perregaux, JeanRichard, Pomellato, Dodo and Qeelin will report to Albert Bensoussan, who has been named chief executive officer of the whole luxury watches and jewellery division.

François-Henri Pinault explained: ‘The new structure reflects the specific character of the businesses of the Group’s different brands, and will provide better responses to their particular needs, adapted to each brand’s stage of development.

"The introduction of this structure is a logical stage in the formation of a more integrated group, to further accelerate the development of our brands while respecting the autonomy and individual identity of each of them.”

 

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