Slide 1: Kering ESG Presentation - ESG Roadshow November 2024
KERING ESG PRESENTATION ESG ROADSHOW - NOVEMBER 2024
Slide 2: Luxury and sustainability are one and the same
“ Luxury and sustainability are one and the same. ” 2
Slide 3: Summary
SUMMARY 1. GROUP PRESENTATION 2. SUSTAINABILITY 3. PEOPLE 4. GOVERNANCE 3
Slide 4: Summary
SUMMARY 1. GROUP PRESENTATION 2. SUSTAINABILITY 3. PEOPLE 4. GOVERNANCE 4
Slide 5: Kering, a leading pure luxury player
KERING, A LEADING PURE LUXURY PLAYER OUR ICONIC HOUSES • Kering operates a complementary ensemble of iconic Luxury Houses and has recently expanded in newer high-growth segments: Eyew ear and Beauty ACTIVE ACROSS VARIOUS PRODUCT CATEGORIES Fashion Leather goods Jewellery Perfume & Beauty Art de vivr
Slide 6: Key figures
KEY FIGURES RESULTS (2023) RECURRING OPERATING INCOME FREE CASH FLOW (2023) FROM OPERATIONS (2023) €19.6 billion Revenue €2 billion €4.7 billion €3 billion 24.3% margin Net income attributable to the Group €3.3 billion (excl. real estate) SUSTAINABILITY PEOPLE GOVERNANCE -58% 49,000 Environmental fo
Slide 7: 2023 Group revenue: a well balanced geographical exposure
2023 GROUP REVENUE A WELL BALANCED GEOGRAPHICAL EXPOSURE BREAKDOWN BY SEGMENT BREAKDOWN BY REGION (as a % of consolidated revenue) RoW Western Europe In €m Comparable change 7% 28% 2023 2022 (% YoY) Gucci 9,873 10,487 -2% Saint Laurent 3,179 3,300 -1% Bottega Veneta 1,645 1,740 -2% Other Houses 3,51
Slide 8: Sharing the value we create
SHARING THE VALUE WE CREATE W I TH O U R E M P L O Y E E S WITH SOCIETY €1,434m €2,982m 13.11 95% income taxes paid (2) personnel expenses hours of training per of employees are on employee (average) permanent contracts €23m philanthropic contributions W I TH O U R S U P P L I E R S W I TH O U R S H
Slide 9: A group defined by entrepreneurial spirit & stable shareholding
A GROUP DEFINED BY ENTREPRENEURIAL SPIRIT & STABLE SHAREHOLDING Employee Institutional Artémis Individual shareholders investors family holding company shareholders Treasury shares 42.2% of capital 59% of voting rights 4.2% 52.7% 0.9% STABLE FAMILY SHAREHOLDING WITH LONG-TERM STRATEGY STRONG INSTITU
Slide 10: Sustainability - for a luxury that embraces creativity, heritage and boldness
SUSTAINABILITY - FOR A LUXURY THAT EMBRACES CREATIVITY, HERITAGE AND BOLDNESS 10
Slide 11: Summary
SUMMARY 1. GROUP PRESENTATION 2. SUSTAINABILITY 3. PEOPLE 4. GOVERNANCE 11
Slide 12: Targeting our main priorities: materiality matrix
TARGETING OUR MAIN PRIORITIES: MATERIALITY MATRIX OUR CONTRIBUTION TO THE UNITED NATIONS SDG • Results of the 2020/2021 materiality assessment confirmed that Kering’s strategic pillars are consistent with external stakeholders’ expectations • 2025 Sustainability Strategy dashboard shows progress mad
Slide 13: Our sustainability roadmap & commitments
OUR SUSTAINABILITY ROADMAP & COMMITMENTS ABOUT OUR IMPACT ON THE PLANET, ON CLIMATE CHANGE, ON NATURAL RESOURCES AIMING TO: • Achieve a 40% reduction of our GHG emissions in absolute terms across our supply chain by 2035 (all scopes: 1, 2 and 3), towards the achievement of our Net CARE Zero target v
Slide 14: Our progress on sustainability commitments
OUR PROGRESS ON SUSTAINABILITY COMMITMENTS • -77% absolute reduction of our GHG emissions on scope 1 & 2 and -55% in intensity on Scope 3 • CDP 2023 Triple A List (Climate / Water / Forests) • 97% traceability for our key raw materials • 75% raw material aligned with the Kering Standards CARE • Rege
Slide 15: External recognition of our ESG performance
EXTERNAL RECOGNITION OF OUR ESG PERFORMANCE Kering is the only Luxury company systematically included in all main ESG ratings and rankings 2023 2023 85/100 / 3rd CDP Climate A Included in DJSI World & Europe indices CDP Water A since 2013 CDP Forests A 2023 2024- 2024 2022 Moody’s ESG Solutions Incl
Slide 16: Our sustainability governance & organization
OUR SUSTAINABILITY GOVERNANCE & ORGANIZATION Report on progress to the Board of Directors --- 17
Slide 17: A set of operational standards to implement our global strategy
A SET OF OPERATIONAL STANDARDS TO IMPLEMENT OUR GLOBAL STRATEGY THROUGHOUT OUR HOUSES Access the latest version of these documents on kering.com 18
Slide 18: Measuring our environmental impact
MEASURING OUR ENVIRONMENTAL IMPACT THE EP&L, CORNERSTONE OF OUR ENVIRONMENTAL APPROACH The environmental profit & loss (EP&L) is an innovative tool for measuring and quantifying the environmental impact of our activities. It is a key enabler of our sustainable business model. OUR ENVIRONMENTAL IMPAC
Slide 19: Measuring our environmental impact: value chain steps
MEASURING OUR ENVIRONMENTAL IMPACT S T E P S O F T H E VAL U E C H AI N C O V E R E D B Y T H E E P & L Tier 0: these operations include transversal activities not necessarily related to the products' life cycle and their commercialization. 20
Slide 20: Launching initiatives with peers
LAUNCHING INITIATIVES WITH PEERS ... • Created in 2019 under the leadership of François-Henri Pinault, it mobilizes participants in fashion and textile with the aim of reducing the industry’s environmental impact . • A CEO-led initiative launched in 2021 by Kering in partnership with Cartier • 60+ m
Slide 21: Actively engaging in leading working groups
… AND ACTIVELY ENGAGING IN LEADING WORKING GROUPS I NDUS TRY A S S O CI ATI O NS TECHNICAL WORKING GROUPS Fashion & luxury Natural capital Circularity Innovation Sourcing & nature Env. excellence Cross sector CUIR DE VEAU RESPONSABLE Beauty Social capital SUSTAINABLE BUILDINGS BY LUXURY MAISONS 22
Slide 22: Focus on our main priorities: table of contents
FOCUS ON OUR MAIN PRIORITIES TABLE OF CONTENTS • CLIMATE Page 24 O U R E M I S S I O N R E D U C T I O N TA R G E T S B A S E D O N S C I E N C E O U R M I T I G AT I O N A N D A D A P TAT I O N P L A N T H E C L I M AT E F U N D F O R N AT U R E • BIODIVERSITY & NATURE Page 28 O U R J O U R N E Y &
Slide 23: Climate: our current greenhouse gas footprint
CLIMATE OUR CURRENT GREENHOUSE GAS FOOTPRINT 2023 TOTAL IN % GROUP GREENHOUSE GAS EMISSIONS REPARTITION in tCO2e* TOTAL EMISSIONS 2,596,739 tons of CO2e 1% 0% 14,918 7,923 SCOPE 3 99% of our impact LEATHER Represents around a third of our total 99% 2,573,898 GHG impact Scope 1 Scope 2 Scope 3 * c al
Slide 24: Climate: our emission reduction targets based on science
CLIMATE OUR EMISSION REDUCTION TARGETS BASED ON SCIENCE OUR ONGOING DECARBONATION ROADMAP STRENGTHENING OUR COMMITMENT • Already embedded into our Houses business plans • Continuation and acceleration of ongoing efforts within our In October 2024, Kering received the SBTi approval for its operations
Slide 25: Climate: our transition plan
CLIMATE OUR TRANSITION PLAN OUR MAIN LEVERS MITIGATION ADAPTATION In our own operations: Reducing our In our supply chain: emissions and optimizing our model Onboarding our suppliers • Development of new business models (circularity, second-hand) and alternative • Fair production: Artificial intelli
Slide 26: Climate: the Climate Fund for Nature
CLIMATE THE CLIMATE FUND FOR NATURE • Launched in December 2022 by Kering, supported by RESULTS AS OF 2023 L’Occitane Group and managed by Mirova, a Natixis subsidiary specializing in environmental and social impact investing. • Open to other participants, with an investment target of €300 million,
Slide 27: Biodiversity & nature: Kering's journey
BIODIVERSITY & NATURE A BRIEF OVERVIEW OF KERING’S JOURNEY SBTN PILOT Kering is one of the first companies TARGET named by SBTN as publicly adopting SBTN Corporate Engagement VALIDATED science-based targets for nature. Programme (2020) (2024) The Fashion Pact (2023) (2019) Biodiversity Strategy • Ke
Slide 28: Biodiversity & nature: acting towards protection & restoration
B I O D I V E R S I T Y & N AT U R E AC T I N G TO WAR D S N AT U R E P R O T E C T I O N & R E S TO R AT I O N Biodiversity is a term used to capture the immense variety OUR COMMITMENTS of life on our planet. It is the living part of Nature. Becoming a nature positive company by 2025 by regeneratin
Slide 29: Kering among first to adopt SBTN's science-based nature targets
B I O D I V E R S I T Y & N AT U R E K E R I N G AM O N G F I R S T TO AD O P T S B T N ’ S S C I E N C E - B AS E D N AT U R E TAR G E T S OUR ENGAGEMENT WITH SBTN Kering is one of 17 companies that submitted science- based targets for nature – for both freshwater and land – as part of a pilot whic
Slide 30: The Regenerative Fund for Nature
B I O D I V E R S I T Y & N AT U R E THE REGENERATIVE FUND FOR NATURE TARGET: Convert 1 million hectares of land in fashion’s supply chain to regenerative agriculture by 2026 2020 2021 2022 2023 2024 2025 Fund inception by Kering Selection of 7 projects Launch of on-the-ground - Inditex joins the Fu
Slide 31: Regenerative Fund for Nature: 1st cohort of projects
B I O D I V E R S I T Y & N AT U R E F O C U S O N R E G E N E R AT I V E F U N D F O R N AT U R E - 1 S T C O H O R T O F P R O J E C T S 7 projects in 6 countries, supporting over 840,000 hectares transitioning to regenerative approaches and benefiting 60,000 people Epiterre France Foundation Orga
Slide 32: Regenerative Fund: involving local communities
B I O D I V E R S I T Y & N AT U R E F O C U S O N T H E R E G E N E R AT I V E F U N D F O R N AT U R E 1 S T C O H O R T O F P R O J E C T S - I N V O LV I N G L O C AL C O M M U N I T I E S Epiterre Foundation Organic Cotton Accelerator The Good Growth Company Fundacion Solidaridad Latinoamerican
Slide 33: Water stewardship and chemicals management
B I O D I V E R S I T Y & N AT U R E WATER STEWARDSHIP AND CHEMICALS MANAGEMENT Water Stew ardship Chemicals management OUR COMMITMENT • Current target: Reducing water consumption at directly owned tanneries by 35% between 2022 and 2035 • SBTN science-based target validated for Freshwater: Our ambit
Slide 34: Circularity ambition: coming full circle
C I R C U L AR I T Y AM B I T I O N "COMING FULL CIRCLE" Circularity refers to the economic model involving sustainable production of goods by minimizing resource consumption & w aste generation. OUR COMMITMENTS Based on 3 pillars: • No unsold product destruction Worldwide 1 Luxury that lasts • 100%
Slide 35: Circularity & innovation: sustainable innovation in action
CIRCULARITY & INNOVATION SUSTAINABLE INNOVATION IN ACTION IN OUR VALUE CHAIN Scaling up innovative processes and developing raw material pilot projects in our Houses Harnessing technology to drive material traceability e.g., V.I.R.T.U.S. blockchain project at Kering Eyewear Clean by Design: program
Slide 36: Circularity & innovation: repair, reuse, recycle
CIRCULARITY & INNOVATION REPAIR, REUSE, RECYCLE REPAIR • Bottega Veneta introduced its Certificate of Craft in 2022: a lifetime warranty program for its most iconic bags (Jodie, Cassette and Pouch) offering unlimited refresh and repair, for free. • Kering has created multi-country specialist repair
Slide 37: Focus on the Material Innovation Lab
CIRCULARITY & INNOVATION FOCUS ON THE MATERIAL INNOVATION LAB Material Innovation Lab Sourcing of responsible suppliers • Created in 2013 and based in Milan • Aims to promote traceability and the procurement of more responsible and innovative materials, while 8,000 minimizing their environmental imp
Slide 38: Sustainable innovation: alternative materials
CIRCULARITY & INNOVATION SUSTAINABLE INNOVATION IN OUR ACTIONS Alternative materials PEELSPHERE GUCCI DEMETRA COFALIT A new alternative A new non-animal material Boucheron unveiled the Jack made from sustainable, material that is both Ultime collection made from renewable and biosourced raw wa
Slide 39: Sustainable sourcing: our commitments
SUSTAINABLE SOURCING OUR COMMITMENTS A set of environmental and social clauses OUR COMMITMENTS PART OF EACH CONTRACT • 100% of key raw materials to be traceable back to their 2 concrete country of origin targets by 2025 • 100% of the key raw materials used by the Group, and the production processes
Slide 40: Focus on raw materials: ensuring responsible procurement
SUSTAINABLE SOURCING FOCUS ON RAW MATERIALS: ENSURING RESPONSIBLE PROCUREMENT The Kering Standards act as a guide for suppliers to ensure compliance w ith our environmental and social requirements. They have been developed in collaboration w ith third party experts and NGOs and are based on the late
Slide 41: Protecting human rights & ensuring living wages
SUSTAINABLE SOURCING PROTECTING HUMAN RIGHTS & ENSURING LIVING WAGES OUR COMMITMENTS OUR MAIN LEVERS Working reasonable hours and decent working conditions SOCIAL AUDITS Preventing discriminatory practices, ending violence and harassment Centralized Respecting employees’ right of representatio
Slide 42: Sustainable sourcing: social audits
SUSTAINABLE SOURCING SOCIAL AUDITS OUR SUPPLY CHAIN STRUCTURE OUR AUDIT METHODOLOGY Geographical location of Kering’s suppliers in 2023 Single, comprehensive audit methodology that covers human rights, health and safety, and the environment Aligned with the best standards in the field such as SA
Slide 43: Summary
SUMMARY 1. GROUP PRESENTATION 2. SUSTAINABILITY 3. PEOPLE 4. GOVERNANCE 44
Slide 44: Kering people
KERING PEOPLE 48,964 PEOPLE 37% 24% Men Support & logistics WORK ALL PLACE 63% 21% 55% Women Production Sales 14% 53% 33% 43% 14% 1% Men Generation Z Baby Americas EMEA APAC (>1995) Boomers (1945-1960) MANAGERS AGE 59% 26% Generation Y Generation X 57% 13,403 11,275 (1981-1995) (1961-1980) Women hir
Slide 45: Our people vision
OUR PEOPLE VISION BE THE PREFERRED EMPLOYER BUILD A “LOVED” AND RESPECTED MULTI- IN LUXURY BRAND COMPANY for responsible, ambitious individuals who want joining strong Houses together with a shared culture and sense to make a difference in an open and diverse environment of purpose, which everyone u
Slide 46: Focus on our main priorities: table of contents
FOCUS ON OUR MAIN PRIORITIES TABLE OF CONTENTS • CREATING DIVERSE LEADERSHIP Page 48 O U R C O M M I T M E N T S TA R T S AT L E A D E R S H I P L E V E L Page 49 • ADVANCING EQUITY IN THE WORKPLACE O U R C O M M I T M E N T T O A D VA N C I N G G E N D E R E Q U I T Y A C R O S S T H E O R G A N I
Slide 47: Creating diverse leadership
CREATING DIVERSE LEADERSHIP OUR COMMITMENT STARTS AT LEADERSHIP LEVEL OUR COMMITMENT FOR 2025 OUR ACHIEVEMENTS Increase diversity in key management positions, in terms of gender and geography, to better reflect our business footprint. Women at Kering account for: OUR MAIN LEVERS 55% 57% Leadership L
Slide 48: Advancing workplace equity
ADVANCING WORKPLACE EQUITY OUR COMMITMENT TO ADVANCING GENDER EQUITY ACROSS THE ORGANIZATION OUR COMMITMENT FOR 2025 OUR ACHIEVEMENTS • Pay equity at all levels • Gender parity at all levels Level 1 Universal Fair Pay certification OUR MAIN LEVERS awarded for the years 2023 and 2024, with Kering and
Slide 49: Advancing workplace equity: engaging our workforce
ADVANCING WORKPLACE EQUITY ENGAGING OUR WORKFORCE – SOME INITIATIVES A GLOBAL BABY LEAVE POLICY From January 1st, 2020, every new parent, whatever their personal circumstances, is entitled to minimum 14 weeks of paid leave to take care of their newborn(s) or newly adopted child(ren). • Fully paid ma
Slide 50: Developing talent: learning & development
DEVELOPING TALENT LEARNING & DEVELOPMENT TALENT DEVELOPMENT • Kering Keys Graduate Programs in EMEA SKILL-BASED LEARNING • Kering Keys Retail in France • Kering Learning: multi-language • Kering Keys Management in France platform with tailored offer based on • Kering Keys Operations in Italy individ
Slide 51: Developing talent: preserving know-how
DEVELOPING TALENT PRESERVING KNOW HOW Training & Knowledge Transfer 10 Craftsmanship excellence programs developed by Craftsmanship preservation Houses in haute couture, leather goods and jewellery To maintain the know-how of its luxury benefitting to 1,700 persons businesses over the long-term Ke
Slide 52: Preserving know-how: excellence programs & partnerships
DEVELOPING TALENT PRESERVING KNOW HOW – EXCELLENCE PROGRAMS & PARTNERSHIPS Gucci ArtLab & Instituto Secoli Institut Saint Laurent Couture Brioni & Scuola di Alta Sartoria Launched in 2018, Gucci Launched in 2018 in collaboration Launched in 1985 through Scuola di ArtLab center of excellence with “
Slide 53: Engaging in a meaningful dialogue with our 49,000 employees
ENGAGING IN A MEANINGFUL DIALOGUE WITH OUR 49,000 EMPLOYEES KERING LISTENING EMPLOYEE SURVEY 2024 KERING GLOBAL EMPLOYEE SURVEY Global survey for all our employees, in 16 languages - 16 questions on engagement, well-being, talent and Inclusion & Diversity & 3 optional questions at House level St
Slide 54: Launch of the first employee shares program in 2022
ENGAGING IN A MEANINGFUL DIALOGUE WITH OUR 49,000 EMPLOYEES LAUNCH OF THE FIRST EMPLOYEE SHARES PROGRAM IN 2022 Purpose Further increasing a strong sense of belonging among Kering employees by allowing them to become shareholders of the Group at preferential conditions 82% of Kering employees covere
Slide 55: Summary
SUMMARY 1. GROUP PRESENTATION 2. SUSTAINABILITY 3. PEOPLE 4. GOVERNANCE 56
Slide 56: Governance
GOVERNANCE Kering’s strategy Kering’s & performance governance driving management compensation 57
Slide 57: Board of Directors' composition
BOARD OF DIRECTORS’ COMPOSITION 7 INDEPENDENT DIRECTORS François-Henri Pinault Chairman and CEO Véronique Weill Dominique D’Hinnin Lead Independent Director Chair of the Chair of the Remuneration Committee Audit Committee 13 Directors 3 NON-INDEPENDENT DIRECTORS Giovanna Melandri Serge Weinberg Chai
Slide 58: Key figures of the Board of Directors
KEY FIGURES OF THE BOARD OF DIRECTORS 2023 AGM 2024 AGM TOTAL NUMBER OF DIRECTORS 12 13 INDEPENDENCE (1) 50% 64% PROPORTION OF WOMEN (1) 40% 55% AVERAGE AGE 57 60 NATIONALITIES 5 6 REPRESENTED 59 (1) In accordance with Article L. 225-27 of the French Commercial Code and the provisions of the AFEP-ME
Slide 59: Board of Directors' skills
BOARD OF DIRECTORS’ SKILLS Board Committees membership & Governance Remuneration Appointments Sustainability Audit François-Henri Pinault Véronique Weill Dominique D’Hinnin Giovanna Melandri Serge Weinberg Concetta Battaglia Maureen Chiquet Jean-Pierre Denis Yonca Dervisoglu Rachel Duan Baudouin Pro
Slide 60: Board committees
BOARD COMMITTEES Audit Committee Remuneration Committee Independent Chair Independent Chair Dominique D’Hinnin Véronique Weill 67% 75% independent independent + 1 joint meeting 97% 100% 3 3 5 on CSRD with the 2 3 3 Sustainability Committee attendance YTD(1) attendance YTD(1) YTD (1) YTD (1) Appointm
Slide 61: Key corporate governance principles
KEY CORPORATE GOVERNANCE PRINCIPLES Compliance with all recommendations of the AFEP-MEDEF Code Board’s composition focused on diversity, independence and expertise Lead Independent Director All four Committees chaired by independent Directors Annual assessment of the Board’s composition and function
Slide 62: Board ESG oversight
BOARD ESG OVERSIGHT BOARD OF DIRECTORS Overall accountability for ESG oversight and strategic direction Determines strategic orientations and considers social and environmental issues in its decisions Lead Independent Director Oversees company sustainability risks and opportunities and engages w
Slide 63: A seasoned and diverse Executive Committee
A SEASONED AND DIVERSE EXECUTIVE COMMITTEE 13 Members Jean-Marc Duplaix Francesca Bellettini Deputy CEO, Brand Development Deputy CEO, Operations and 46% Women François-Henri Pinault since 2023, President and Chief Finance since 2023 Executive Officer, Yves Saint After 10 years within Arthur Anderso
Slide 64: Governance
GOVERNANCE Kering’s strategy Kering’s & performance governance driving management compensation 65
Slide 65: Remuneration structure for the Chairman and CEO
REMUNERATION STRUCTURE FOR THE CHAIRMAN AND CEO DESIGNED TO CREATE MEDIUM- AND LONG-TERM VALUE 84% Performance-based remuneration Annual variable remuneration o150% of the fixed annual remuneration at target and 24 % 203% max. 60% Long-term variable 16% remuneration (performance shares) o150% of the
Slide 66: Changes to the remuneration policy for the Chairman and CEO
CHANGES TO THE REMUNERATION POLICY FOR THE CHAIRMAN AND CEO VOTED AT THE 2024 AGM Three new non-financial criteria Climate (GHG emissions on scope 1, 2, 3) ANNUAL Gender pay gap VARIABLE Succession planning REMUNERATION Ongoing use of a non-financial criterion based on the protection of in
Slide 67: Components of the Chairman and CEO's remuneration
COMPONENTS OF THE CHAIRMAN AND CEO’S REMUNERATION Annual fixed remuneration Annual variable remuneration Long-term variable remuneration (cash) (cash) (performance shares) Performance criteria (1 year) Performance criteria (3 years) Proportion of women in • Consideration of the level and Climate exe
Slide 68: 2024 annual variable remuneration for the Chairman & CEO
2024 ANNUAL VARIABLE REMUNERATION FOR THE CHAIRMAN & CEO NON-FINANCIAL TARGETS ALIGNED WITH THE GROUP’S AMBITIONS Criteria Weight Targets CLIMATE • 4% reduction in greenhouse gas emissions in absolute terms (scopes 1, 2 and 3 10% of the GHG Protocol) as part of the overall target of reducing them by
Slide 69: 2024 long-term variable remuneration (LTI)
2024 LONG-TERM VARIABLE REMUNERATION (LTI) HOW PERFORMANCE SHARES WORK? 2024 2025 2026 2027 VESTING PERIOD (3 years) Final vesting Grant of performance shares subject to conditions Chairman & CEO Performance conditions 150% of fixed remuneration year Y See next slide + annual variable remuneration d
Slide 70: 2024 long term variable remuneration (LTI)
2024 LONG TERM VARIABLE REMUNERATION (LTI) NON-FINANCIAL TARGETS ALIGNED WITH THE GROUP’S COMMITMENTS Relative Criteria weighting Targets (1) Consolidated recurring 40% Minimum 5 % increase in the average amount over the 3-year vesting period FINANCIAL operating income TARGETS Consolidated free cash
Slide 71: 2024 remuneration for Board members
2024 REMUNERATION FOR BOARD MEMBERS VOTED AT THE 2024 AGM €1,400,000 (unchanged vs. 2023) OVERALL ENVELOPE VARIABLE 60% Conditioned on Directors' attendance at Board and 40% FIXED Committee meetings STRUCTURE Minus special portions for: OF THE DIRECTORS’ Coefficient mechanism: • the Chairs of the Co
Slide 72: Kering Houses
Gucci • Saint Laurent • Bottega Veneta • Balenciaga • Alexander McQueen • Brioni Boucheron • Pomellato • Dodo • Qeelin • Ginori 1735 Kering Eyewear • Kering Beauté
Slide 73: Empowering Imagination