Kering names new CFO as it reveals Q1 results

Luxury group Kering has promoted Armelle Poulou to the role of Chief Financial Officer, effective 1 September 2023. 

In this role, she will continue reporting to Jean-Marc Duplaix, now Deputy CEO, in charge of operations and finance.

Poulou currently serves as Director of Corporate Finance, Treasury & Insurance at Kering. Prior to this, she held various positions at EDF from 1999 to 2019.

The news follows the group's financial results for the first half of 2023, revealing a 2% rise in revenue to £8.6 billion (€10.1bn).

For H1, the group also shared the following brand results:

• Gucci revenue down 1% to £4.3 billion (€5.1bn).
• YSL revenue up 6% to £1.3 billion (€1.6bn).
• Bottega Veneta  revenue flat to £714 million (€833m).
• Other houses revenue down 5% to £1.6 billion (€1.9bn).

Net income totalled £1.5 billion (€1.8bn) for the first half of 2023.

François-Henri Pinault, Chairman and CEO of Kering, said: "In the first half, we pursued our investments in our Houses’ desirability and exclusivity.

"While engaging in critical forward-looking initiatives, we maintained a high level of profitability. We also took some decisive steps to expand our footprint in the luxury universe, notably with the acquisition of the famed Creed fragrance house to accelerate the liftoff of Kering Beauté.

"Together with the major organisational changes we announced last week to enhance stewardship of our Houses, as well as the many projects we have already launched over the past few months, the developments of the first half strengthen my confidence in Kering’s future prospects."

Last week Kering revealed it had taken a 30% stake in Italian luxury house Valentino as part of a wider strategic partnership with its Qatari one Mayhoola.