Breaking News, World News and Taiwan News.

French luxury giant Kering '13 profits slump on restructuring

PARIS--French luxury giant Kering said Friday that profits slumped in 2013 as the group restructured to refocus on high-end products like Gucci and Yves Saint Laurent.

Net profit dropped from slightly more than 1.0 billion euros in 2012 to 49.6 million euros last year (US$68.0 million), the group said in a statement.

Kering shares dropped 3.45 percent to 149.65 euros in morning trading.

Such a profits fall is particularly unusual in the French luxury products sector which comprises many top global brands and has been boosted by broad expansion into emerging markets over several years.

Write a Comment
CAPTCHA Code Image
Type in image code
Change the code
 Receive China Post promos
 Respond to this email
WSJA
Subscribe  |   Advertise  |   RSS Feed  |   About Us  |   Career  |   Contact Us
Sitemap  |   Top Stories  |   Taiwan  |   China  |   Business  |   Asia  |   World  |   Sports  |   Life  |   Arts & Leisure  |   Health  |   Editorial  |   Commentary
Travel  |   Movies  |   TV Listings  |   Classifieds  |   Bookstore  |   Getting Around  |   Weather  |   Guide Post  |   Student Post  |   Terms of Use  |   Sitemap
  chinapost search