Group 1 - Gucci has appointed Gianluca de Ficchy as its new CFO, effective December 1, 2025, who will report to CEO Francesca Bellettini [1] - The management change is part of Kering's strategy under newly appointed CEO Luca de Meo to address challenges faced by the luxury group, particularly as Gucci generates over half of Kering's profits [2] - Gucci's previous CFO, Alberto Valente, left the company in September after 17 years [2] Group 2 - Kering reported Q3 2025 revenue of €3.4 billion ($3.94 billion), reflecting a 10% decline on a reported basis and a 5% decrease on a comparable basis [3] - Gucci's Q3 revenue was €1.3 billion, marking an 18% drop on a reported basis and a 14% decrease on a comparable basis [3] - Kering is launching a new investment platform to reduce reliance on Gucci, which will seek long-term funding to acquire stakes in high-potential emerging companies [4]

Core Insights - Kering's CEO Luca De Meo is launching a new investment platform called House of Dreams to support emerging businesses and reduce reliance on Gucci [1][4] - The investment unit will focus on areas such as experiential technology, Indian craftsmanship, and culture-led Chinese luxury [2] - Kering aims to reinforce its brand portfolio while preparing for various future scenarios in the luxury market [3] Investment Strategy - House of Dreams is designed to "de-risk" Kering's dependence on Gucci, which currently accounts for 50% of the company's operating income [4] - The investment arm will leverage Kering's access to affluent customers and is inspired by similar structures at competitors like LVMH and L'Oréal [5] - A 90-day pilot phase is planned for House of Dreams, supported by a seed fund and an initial team, although the full launch date remains unspecified [5] Financial Performance - Kering reported Q3 2025 revenue of €3.4 billion ($3.94 billion), reflecting a 10% decline on a reported basis and a 5% decrease on a comparable basis [6] - The company has agreed to sell its beauty business to L'Oréal for €4 billion, which includes the transfer of the House of Creed and beauty licenses for Kering's luxury brands [6]

Investment Platform - A new investment platform is launched [1] - The platform focuses on providing capital for Zambia's small and medium-sized businesses [1] - The platform is backed by an initial investment of $70 million [1]