2024 APRIL ISSUE
CASE STUDY
THE STORY OF KERING
Written by Andrew Sia
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From the Desk of the Publisher
The luxury industry has benefitted from global wealth for decades and has remained resilient through various economic cycles. While the world went through financial contractions: dot-com crash in 2001, global financial crisis in 2008 and COVID-19 pandemic in 2020, the luxury industry has always bounced back. It is always driven by demand and it is even resilient to political situation, whereas at this moment Chinese shoppers may have stopped their overseas trips that may slowing down their shopping spree for the luxury items, but the Japan market has been catching up, as well as the Middle East.
The desires for luxury items, especially the jewelry will remain unchanged. This has driven the luxury business and have also created the three conglomerates, namely, LVMH, Richemont and Kering, and between them they must have more than 100 brands.
This is including the watches, fashion, accessories and perfumery.
There are luxury hospitality and personal services which are available to individuals. This is pampering the rich and the famous.
Like what the title said, this is the story of Kering about its founder who started it from scratch.
