Fashion
Already the start of major maneuvers at Kering?
Published
September 15, 2025
Luca de Meo seems intent on reshuffling the deck at Kering. At the French luxury group’s annual general meeting in September, the new Italian boss, who joins from Renault, took a straight line to express his vision. The new roadmap will be announced in early 2026, but he and his team will be making adjustments before the end of the year, he explained.
An understatement. Luca de Meo is due to officially take up his post this Monday at the Paris headquarters of the parent company of Gucci, Saint-Laurent, Bottega Veneta, McQueen, Boucheron and Balenciaga, and has already begun the big maneuvers.
According to WWD and Miss Tweed, Francesca Bellettini, the former CEO of Saint-Laurent, who has been Kering’s Deputy CEO in charge of house development since September 2023, will be in charge of the group’s core business. In this role, all the group’s general managers now report to her. Within the management committee, which was headed by François-Henri Pinault (who remains chairman of the Board as of September 15), Jean-Marc Duplaix was the other deputy managing director, in charge of operations.
This appointment to Gucci’s general management, if confirmed, would imply the departure of Stefano Cantino. Recruited from Louis Vuitton in May 2024 as deputy CEO of Kering’s flagship fashion house, which was then headed by Jean-François Palus, Cantino took over as CEO of Gucci on January 1. If these changes are confirmed, the Italian will have held the reins of the Roman house for only nine months.
For Bellettini, this potential move would be a major challenge, as de Meo has made no secret of the urgent need to turn around the group’s flagship, which accounts for some 40% of global sales in the first half of 2025, as much as a return to its roots. Having been with the group for over twenty years, the Italian executive initially joined Gucci in 2003, where she was director of strategic planning and associate director of merchandising, before transferring to Bottega Veneta and then helping Saint-Laurent grow, first at the end of the Slimane era and then with Anthony Vaccarello.
Media reports announcing this change of challenge for the director suggest that these moves could be made official at the beginning of the week.
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Published
October 30, 2025
All set to “reimagine the fashion buying experience”, the launch of ‘Fashion at Spring Fair’ will happen at the NEC Birmingham from 1-4 February.
The launch “marks a homecoming for fashion” to deliver “the best in apparel, accessories, and jewellery under one inspiring roof”, organiser Hyve Group said.
Created in “direct response to buyer demand for a fashion-first experience”, event portfolio director Jackson Szabo said: “Fashion at Spring Fair represents a natural evolution in how we bring style, creativity, and commerce together for the UK fashion retail sector.
“We’ve listened closely to buyers and exhibitors alike, and this new destination is designed to meet their needs. It’s not just a place to discover products; it’s where ideas evolve, collaborations form, and the next stories in fashion retail take shape.”
Buyers will discover “immersive spaces designed to bring fashion to life”, including The Style Atelier, a monochromatic studio hosting live trend forecasts, styling masterclasses, and curated showcases.
Meanwhile, the New Business Pavilion offers a dedicated stage for up-and-coming brands such as Nudie Jewellery, Artemis Muse, and Livia Betancourt, to give buyers first access to “fresh, trend-led collections”.
Alongside this will be a curated selection of standout brands, including Urban Bliss, Lighthouse Clothing, Nina Murati, Decollage, Isle & Stars, Luella, and Girl in Mind, to “highlight the very best in contemporary fashion”.
Jewellery and watches will feature creations from Scream Pretty, Bill Skinner, Ayala Bar, and Peace of Mind, while fashion accessories and leather goods include Rock Luggage, Mala Leather, Ashwood Leather, Alice Wheeler, Pachamama, Yoshi and Eloise London.
Also part of Spring Fair 2026 is a new creative direction called ‘Retail Alchemists, Masters of the Mix’, bringing together “craft, creativity, commerce, and connection in a dedicated space”.
Copyright © 2025 FashionNetwork.com All rights reserved.
The projects will cover 68,000 square metre and generate 4,600 direct jobs.
Suez Canal Economic Zone (SCZone) chairman Waleid Gamal El-Dein and Ismailia province deputy governor Ahmed Essam El-Din laid the foundation stones.
Foundation stones were recently laid for two projects in Egypt’s West Qantara Industrial Zone by two Chinese-backed Firms.
Hui Zhou Top New Garment will set up an export unit for RMG and sportswear, with production likely to begin in July 2026.
Changzhou Top Credit’s project will manufacture fabrics and textiles, with an expected annual output of over 28,000 tonnes, 80 per cent of which will be exported.
Hui Zhou Top New Garment will set up an integrated, export-oriented factory for readymade and sportswear apparel, with production expected to begin in July 2026. The 28,000-square metre facility valued at $7.2 million will employ 4,000 workers and produce more than 25 million pieces annually, domestic media outlets reported.
With an investment of $13.3 million, Changzhou Top Credit’s project will manufacture fabrics and textiles on a 40,000-sq m site, with an expected annual output exceeding 28,000 tonnes, 80 per cent of which will be exported. The factory will employ 600.
El-Dein said the first phase of the industrial zone’s development has already drawn 44 projects, with total investments worth $1.17 billion and creating 60,165 jobs in less than two years.
Fibre2Fashion News Desk (DS)
The operating income fell 62.2 per cent to $29.1 million, reflecting higher tariffs, increased investment in product quality and store expansion. Adjusted operating income dropped 48.9 per cent to $39.4 million, with an adjusted operating margin of 5.2 per cent versus 10.2 per cent in the previous year.
American apparel company Carter’s, Inc, has reported flat Q3 FY25 sales at $757.8 million, while profit fell sharply due to higher tariffs and restructuring costs.
Net income dropped to $11.6 million from $58.3 million, with adjusted EPS down to $0.74.
The company plans 300 job cuts and 150 store closures to save $35 million annually, while tariffs are expected to impact Q4 earnings by $25–35 million.
Net income plunged to $11.6 million, or $0.32 per diluted share, from $58.3 million, or $1.62 per diluted share, a year earlier. On an adjusted basis, net income was $26.8 million, or $0.74 per diluted share, compared to $59 million, or $1.64 per diluted share, in Q3 FY24, Carter’s said in a press release.
“Our third quarter performance reflected continued improvement in US retail business demand as we achieved positive comparable sales and improved pricing for the second consecutive quarter,” said Douglas C Palladini, chief executive officer (CEO) and president. “However, elevated product costs, in part due to the impact of higher tariffs, as well as additional investment, weighed meaningfully on our profitability.”
For the first nine months (9M) of FY25, Carter’s has reported net sales of $1.97 billion, down 0.6 per cent YoY. Adjusted operating income declined nearly half to $86.5 million, with adjusted earnings per share (EPS) at $1.57, compared with $3.43 a year earlier. Net cash used in operations totalled $136.3 million, compared to net cash inflow of $11.3 million in FY24.
The company has initiated a productivity drive, including the reduction of 300 office-based roles (around 15 per cent of its workforce) and the closure of 150 stores across North America by 2026, measures expected to generate annual savings of about $35 million beginning in 2026, added the release.
Looking ahead, the company warned that new US import tariffs could have a pre-tax earnings impact of $200–250 million annually. Vietnam, Cambodia, Bangladesh, and India now account for about 75 per cent of Carter’s sourcing, with China contributing less than 3 per cent. The company expects a $25–35 million hit to pre-tax income in Q4 FY25 due to tariff pressures.
Carter’s has also secured commitments for a new five-year $750 million asset-based revolving credit facility to strengthen liquidity and is evaluating refinancing options for its $500 million senior notes maturing in 2027.
Fibre2Fashion News Desk (SG)
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