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    KER   FR0000121485

KERING

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Kering Goes Fur-Free Across All Brands

09/24/2021 | 04:42am EST

By Joshua Kirby

French luxury-goods conglomerate Kering will be entirely fur-free as of next year, the company said Friday.

Starting from the Fall 2022 collection, none of the group's fashion brands will use animal fur in their clothing products, Kering said.

"When it comes to animal welfare, our group has always demonstrated its willingness to improve practices within its own supply chain and the luxury sector in general," Kering Chief Executive Francois-Henri Pinault said. "The time has now come to take a further step forward by ending the use of fur in all our collections."

In 2017, Kering's leading brand Gucci said it would no longer use animal fur in its collections. Stablemates including Balenciaga, Bottega Veneta, Alexander McQueen and Saint Laurent have progressively followed suit.

The move is guided by a perspective on luxury that is "inseparable from the very highest environmental and social values and standards," Mr. Pinault added.

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

(END) Dow Jones Newswires

09-24-21 0441ET

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Financials
Sales 2021 16 921 M 19 158 M 19 158 M
Net income 2021 3 104 M 3 515 M 3 515 M
Net Debt 2021 4 767 M 5 397 M 5 397 M
P/E ratio 2021 27,4x
Yield 2021 1,63%
Capitalization 84 540 M 95 742 M 95 719 M
EV / Sales 2021 5,28x
EV / Sales 2022 4,72x
Nbr of Employees 33 134
Free-Float 58,2%
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 681,40 €
Average target price 776,73 €
Spread / Average Target 14,0%
EPS Revisions
Managers and Directors
Franšois Jean Henri Pinault Chairman & Chief Executive Officer
Jean-Marc Duplaix Chief Financial Officer
Yseulys Costes Independent Director
Daniela Riccardi Independent Director
Sophie L'HÚlias Lead Independent Director
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