Kering

Before the sun comes the storm: this year has been unforgiving for the world’s second-largest luxury empire, with profits down by 46% in the first half. There is no hiding the crisis that has hit several brands, the burden of debt, and the delayed change of direction. To calm the flames, a new CEO has been called in, Italian executive Luca De Meo, who arrived with solutions radical enough to feel almost revolutionary. Less power to creative directors, restructuring and pruning of dead branches that weigh down the great tree. A new mindset that treats fashion as the mass industry it has in fact become.