Kering, the luxury conglomerate, has experienced tremendous success in its Italian operations, surpassing 11 billion euros in revenue. Over the past 25 years, Kering has established a strong presence in Italy, employing around 13,500 people through its 49 locations across the country. Italy has become a vital strategic location for Kering, as it houses the company’s headquarters, production sites, logistic centers, and research and innovation units.

The significance of the Italian market for Kering has grown since its acquisition of a stake in the Gucci Group in 1999. Italian brands now make up nearly half of Kering’s portfolio, with Gucci being the flagship label accounting for almost half of the company’s revenue and about 60% of its operating profit. Other well-known Italian brands under Kering’s ownership include Bottega Veneta, Brioni, Pomellato, DoDo, Kering Eyewear, and Ginori 1735. Kering further expanded its Italian holdings by acquiring a 30% stake in Valentino last summer.

In 2022, Kering’s Italian companies generated an impressive 11.6 billion euros in revenue, marking an 18.3% growth over three years. This achievement solidifies Kering and its brands as the leading entity in the Italian fashion and related sectors, positioning them as the country’s fourth-largest manufacturing entity. Kering’s total revenue reached 20.35 billion euros, and its presence in Italy contributed significantly to the country’s overall exports, totaling 10.5 billion euros. During the period between 2019 and 2022, there was a notable 15% increase in Kering’s contribution to Italy’s export market.

According to a report by consultancy firm The European House – Ambrosetti, Kering’s total contribution to the Italian ecosystem in 2022 amounted to 10.9 billion euros, equivalent to 0.6% of Italy’s GDP. This figure includes the direct added value from Kering’s activities, as well as the indirect added value generated by its supply chain and the induced value resulting from expenditure due to remunerations paid by Kering.

Francesca Bellettini, the appointed deputy CEO of Kering, highlighted the expanding and diversifying relationship between Kering and Italy throughout the years, encompassing not only artisanal expertise but also logistical and managerial competencies. Jean-Marc Duplaix, another deputy CEO of Kering, emphasized that the study reaffirms the company’s status as a conglomerate deeply rooted in the Italian market. Kering remains committed to expanding investments, attracting and retaining top talent, and pursuing sustainable business growth.

Kering serves as a significant employer in Italy, providing job opportunities for 13,500 individuals primarily in the regions of Tuscany, Lombardy, and Veneto. This workforce represents 28% of Kering’s overall employees. The company also demonstrates its commitment to training by allocating 10 million euros for training in Italy in 2022 and offering 225 internships, with one-third of them leading to full-time employment.

Aside from its headquarters in Milan and Florence, Kering has recently inaugurated a new logistics hub in Trecate, Piedmont, and a leather goods workshop in Scandicci dedicated to its Saint Laurent brand. Balenciaga has also established a leather goods site and training center in Tuscany, while Bottega Veneta has set up a workshop specializing in shoe manufacturing in the Veneto region.

Overall, Kering’s presence in Italy continues to expand, making significant contributions to the country’s economy and fashion industry. The company’s long-standing relationship with Italy, coupled with its investment in Italian talent and expertise, solidifies its position as a major player in the luxury sector.

Useful links:
1. Kering’s Investment in Student Talent
2. Kering’s Sustainability Impact Report