Kering shares plunge 10% after Demna Gvasalia named as Gucci’s artistic director

A Gucci store, operated by Kering SA, in the Sanlitun area of Beijing, China, on Saturday, Oct. 12, 2024. 

Bloomberg | Bloomberg | Getty Images

Shares of Kering plunged on Friday after the company announced that Demna Gvasalia would take the reins as new artistic director of its ailing Gucci fashion line.

Gvasalia, who joins from Balenciaga, replaced Sabato De Sarno, whose departure was announced last month.

Shares were down 10.37% by 8:19 a.m. London time.

This is a developing story and will be updated shortly.

  • Aniket Pujari

    Aniket Pujari

    Aniket Pujari, a graduate in Financial Markets, is the founder of Minute To Know News, a digital platform providing daily news updates on cryptocurrencies, finance, and economics. With a passion for finance and technology, Aniket has been exploring the world of cryptocurrencies since 2015, building a deep understanding of these rapidly evolving industries.

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