Kering and LVMH, two of the largest luxury groups in France, are pushing forward with their share buyback initiatives after delivering impressive performances. Kering has recently unveiled the third phase of its ongoing program, which seeks to repurchase up to 2% of its own share capital over a span of 24 months. The first two phases, which were completed in November and April, respectively, covered nearly 0.5% of its share capital each. With this new phase, Kering plans to acquire a maximum of 650,000 shares, equivalent to approximately 0.5% of its outstanding share capital as of April 28, 2022. The highest purchase price per share has been set at 1,000 euros, and the buyback period will extend from May 18 to July 19, 2022.

The shares acquired under this third phase will be partially cancelled, while the remaining portion will be utilized to facilitate free share grant programs for employees. The specific quantities will be determined at the conclusion of the buyback period. To showcase its dedication to providing incentives and rewards for its workforce, Kering recently introduced an equity compensation plan for employees.

In a parallel move, LVMH has also launched its own share buyback program, entrusting the responsibility to an investment services provider. The maximum value of the transaction is one billion euros or 10 million shares, and the buyback period will be in effect from May 17 to November 15, 2022. The price of the shares repurchased under this mandate will not surpass the 1,000 euros per share limit established during the LVMH general meeting held on April 21. These repurchased shares by LVMH will also be cancelled.

The decisions made by both Kering and LVMH to proceed with their share buyback programs exemplify their positive outlooks and confidence in future growth prospects. These initiatives not only enable the companies to invest in their own stocks but also allow them to provide value back to their shareholders. As the luxury industry continues to recover from the hurdles posed by the pandemic, Kering and LVMH are positioning themselves for sustained success and meeting the expectations of their shareholders.

Useful links:
– [Kering Share Buyback Program](
– [LVMH Share Buyback Program](