Faced with a 60% drop in revenue over the past three years, the fashion house is citing an emergency situation to restructure its transalpine manufacturing operations. These measures are part of broader cost-cutting measures launched by Luca de Meo, the new CEO of its owner, the Kering group.
With Kering‘s 2025 results due to be unveiled on February 10, its new CEO Luca de Meo continues to wield the axe…
Following the various measures already announced since his arrival in September by the luxury group (the purchase of the entire Valentino fashion house postponed until 2029, the sale of the Kering Beauty division to the L’Oréal group, the sale of 60% of the shares in a prestigious New York building), it is now the turn of the Italian production subsidiary of the luxury fashion house Alexander McQueen to be in the CEO’s sights.
Urgency to reduce debt
On September 9, Luca de Meo, who had only just taken up his post, explained at the luxury group’s General Meeting the urgency of “continuing to reduce debt.” And today, he is not sparing his country of origin.
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Read also > Kering: Luca de Meo’s internal plan dampens the stock market
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