Here are five highlights for investors who follow the stock and might be tempted to invest against the tide. Over the last decade:

1. Kering doubled its sales and, on a per-share basis, increased its profit sixfold and its dividend threefold.

2. Return on equity has hovered around an average of 17%, without any particularly pronounced use of leverage - on the contrary.

3. Valuation hovered around an average of x17 operating profit, with a high of x32 and a low reached today of x9.

4. Of the EUR18 billion in free cash flow generated over the period, net of asset disposals, EUR7 billion was invested in acquisitions and EUR11 billion returned to shareholders, including EUR9 billion in dividends and EUR2 billion in share buybacks.

5. The dividend - 3.8% at the current rate - has always been comfortably covered by free cash flow. Last year, it represented 57% of free cash flow.

Of course, the problem with the stock market is that you're rarely paid to describe what you've seen in the rear-view mirror; on the contrary, it's all about predicting the next turn. Nevertheless, Kering's track record speaks for itself.