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Kering – Multinationals Observatory

The world number two in luxury behind LVMH, owner of Gucci, Yves Saint-Laurent and Balenciaga, originated in a family sawmill business founded in the 1960s by François Pinault in Brittany. The group then turned to trade and distribution (Printemps, La Redoute, Conforama), before focusing on luxury under the leadership of François-Henri, son of the founder and current CEO of the group. Throughout this history, it has developed through large-scale acquisitions and brutal resales of certain activities, not without social damage.

Today, it is a luxury conglomerate which, like its competitors, aggressively communicates about its ecological responsibility and the progressive societal values ​​it intends to embody, particularly with regard to women’s rights. Kering and its CEO are also increasing philanthropic initiatives.

The reality is often the opposite of these beautiful speeches. Kering’s image, like the entire luxury sector, is closely associated with increasing wealth inequality and a largely unsustainable consumption model. The practices of its leaders do not contradict this diagnosis, since the CEO François-Henri Pinault regularly grants himself one of the most important remunerations of the CAC40 and that the group and its subsidiary Gucci have been caught in a huge scandal of tax evasion. passing through Switzerland.

As a global brand, Kering finds itself at the head of international supply chains which can cause labor rights issues in some countries such as India, or raise questions in terms of environmental impact.

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