Kering to Back Surf Star Kelly Slater in New Lifestyle Brand

Kelly Slater at the 2008 ASP World Tour in Bali | Source: ASP World Tour Surfing

LONDON, United Kingdom — After two decades as the face of surfwear giant Quiksilver, top-ranked professional surfer Kelly Slater has announced that he is leaving the ailing sports apparel brand to forge a new partnership with luxury group Kering.

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Accessible Luxury Snaps at Heels of Mega Brands

Michael Kors S/S 2014 campaign | Source: Michael Kors

PARIS, France — While Gucci and Louis Vuitton blame slumping sales on their upmarket drive they argue will help them regain some of their lost glory, there is growing evidence they are losing out to newer, more affordable luxury brands.

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Market Pulse | Giving Thanks?

Savigny Luxury Index November 2013 | Source: Savigny Partners

Investors are moving away from bigger groups towards smaller brands and American “affordable luxury.” Meanwhile, the jury is still out as to whether the crucial trading period from Thanksgiving to Christmas will deliver strong results, but sentiment remains positive, reports Pierre Mallevays of Savigny Partners.

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Kering Enters Exclusive Talks to Sell La Redoute to Management

La Redoute lingerie | Source: La Redoute

PARIS, France — Kering SA, the owner of Gucci, entered exclusive talks to sell La Redoute to management, aiming to complete the disposal of the mail-order unit in the first half of 2014 as it focuses on luxury and sporting goods.

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Kering Sees Very Significant Drop in 2013 Net on Puma, Redoute

Puma Suede trainers | Source: Puma

PARIS, France — Kering, formerly called PPR, said it expects net income this year to drop “very significantly,” hurt by one-time charges related to its Puma brand and from costs related to its sale of mail-order business La Redoute.

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Luxury Market Headed for Slowest Year of Growth Since 2009

Gucci Autumn/Winter 2013 campaign | Source: Gucci

PARIS, France — Worldwide luxury-goods sales will expand at the slowest pace since 2009 this year as slack Chinese consumption and the weakness of the Japanese yen weigh on growth, according to an estimate from Bain & Co.

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