Key Developments: Kering SA (PRTP.PA)

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Latest Key Developments (Source: Significant Developments)

Employees of Kering SA's La Redoute to Demonstrate in Lille-DJ
Wednesday, 30 Oct 2013 08:00pm EDT 

Dow Jones reported that employees of Kering SA's La Redoute at its Wattrelos site voted to hold a demonstration in Lille on November 7, 2013 against restructuring plans. Workers at the Company's Roubaix site have also voted to take industrial action.  Full Article

Kering SA's La Redoute to Cut Approximately 700 Jobs; to Outsource Client Relationship Management; to Make Logistics Department into Subsidiary-Reuters
Tuesday, 29 Oct 2013 11:58am EDT 

Reuters reported that approximately 700 jobs will be cut at Kering SA's La Redoute as part of the project to sell the company, according to a trade union source. The trade union source said that Kering's Financial Director Jean-Marc Duplaix told unions that La Redoute's customer relationship management department, which has 180 staff, would be outsourced while the logistics department would become a subsidiary.  Full Article

Kering in Talks to Sell La Redoute
Thursday, 24 Oct 2013 11:40am EDT 

Kering announced that it has pursued the process of disposal of La Redoute, and is in talks with several potential buyers.  Full Article

Employees of Kering's La Redoute Demonstrate to Demand Guarantees Regarding Their Jobs-Agence France Presse
Monday, 21 Oct 2013 08:00pm EDT 

Agence France Presse reported that between 450 and 550 employees of Kering's La Redoute demonstrated in front of the Company's headquarters to demand guarantees regarding their jobs. According to trade unions, Kering has confirmed that it plans to sell La Redoute after it has been recapitalized. Employees of La Redoute want to receive guarantees regarding their salaries and tenure of employment.  Full Article

Kering SA Issues EUR 500 Million Bond
Monday, 30 Sep 2013 11:49am EDT 

Kering SA announced that it has issued a EUR 500 million, 1.875% fixed-rate bond maturing in five years (October 8, 2018) listed on the Luxembourg stock exchange. This issue enables Kering SA to diversify its sources of financing and to enhance its funding flexibility through refinancing of existing debt and extension of their average maturity. The placement is managed Credit Agricole-CIB, HSBC, Mitsubishi UFJ Securities International, NATIXIS, Societe Generale-CIB and UNICREDIT.  Full Article

Kering Acquires Minority Stake in Altuzarra-L'Agefi Quotidien
Sunday, 8 Sep 2013 08:00pm EDT 

L'Agefi Quotidien reported that Kering has acquired a minority stake in New York-based fashion label Altuzarra. The exact size of the stake acquired and the financial terms of the deal were not disclosed.  Full Article

Kering Issues EUR 500 Million Bond
Monday, 8 Jul 2013 12:28pm EDT 

Kering announced that it has issued a EUR 500 million, 2.50% fixed-rate bond maturing in July 2020. The placement is managed by Banca IMI, CA-CIB, Commerzbank, Natixis, RBS and SG-CIB.  Full Article

Kering Issues EUR 500 Million Bond
Monday, 8 Jul 2013 12:28pm EDT 

Kering announced that it has issued a EUR 500 million, 2.50% fixed-rate bond maturing in July 2020. The placement is managed by Banca IMI, CA-CIB, Commerzbank, Natixis, RBS and SG-CIB.  Full Article

Kering Issues EUR 500 Million Bond
Monday, 8 Jul 2013 12:28pm EDT 

Kering announced that it has issued a EUR 500 million, 2.50% fixed-rate bond maturing in July 2020. The placement is managed by Banca IMI, CA-CIB, Commerzbank, Natixis, RBS and SG-CIB.  Full Article

Kering Completes Acquisition of Pomellato
Friday, 5 Jul 2013 11:39am EDT 

Kering announced that it has completed the acquisition of a majority stake in the Pomellato group, in accordance with the terms announced on April 24, 2013, after having received clearance from the antitrust authorities.  Full Article

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Gucci ousts leadership duo after sales decline

PARIS - The owners of Gucci parted company with the Italian fashion brand's leadership duo on Friday, promoting the head of their luxury goods business to the top job in response to slumping sales.

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