Mit Magzter GOLD unbegrenztes Potenzial nutzen
Erhalten Sie unbegrenzten Zugriff auf über 9.000 Zeitschriften, Zeitungen und Premium-Artikel für nur
Versuchen GOLD - Frei
Kering founder crashes out of world's 100 richest amid struggles at Gucci
The Straits Times
|November 23, 2024
Luxury group expects lowest profit in years as its biggest brand faces weaker demand
-
PARIS Mr Francois Pinault, the octogenarian founder of Kering, is no longer among the 100 richest people in the world, as his son struggles to turn around the French luxury conglomerate's biggest brand, Gucci.
Mr Pinault, 88, fell to No. 105 on the Bloomberg Billionaires Index, the first time he has been out of the top one-fifth of the 500-person ranking since his name was added a dozen years ago.
His wealth has dropped by twothirds to US$20.3 billion (S$27.33 billion) through Nov 21 from an August 2021 high, the largest percentage decline of anyone still on the index over the period.
At that time, he was ranked No. 22.
The loss of wealth for the Pinault family is remarkable even amid an overall decline for the luxury sector, which has been hit hard by weaker demand in China for highend goods like designer clothes, fine wines and cosmetics.
Diese Geschichte stammt aus der November 23, 2024-Ausgabe von The Straits Times.
Abonnieren Sie Magzter GOLD, um auf Tausende kuratierter Premium-Geschichten und über 9.000 Zeitschriften und Zeitungen zuzugreifen.
Sie sind bereits Abonnent? Anmelden
WEITERE GESCHICHTEN VON The Straits Times
The Straits Times
Repetitive dullness snuffs out A House Of Dynamite
Despite a star-studded cast, including Rebecca Ferguson and Idris Elba, the political thriller flops as the suspense fizzles out
2 mins
October 30, 2025
The Straits Times
India in 'wait-and-watch' mode on US sanctions against Russian crude
India, one of Moscow’s largest oil purchasers, is starting to suspend some of its oil imports from Russia to mollify US President Donald Trump while it works on renegotiating a trade deal with the US.
4 mins
October 30, 2025
The Straits Times
More support for Al start-ups to scale faster under new partnership
It is part of plan to forge tie-ups that take ideas from S'pore to the world: DPM Gan
4 mins
October 30, 2025
The Straits Times
Cruise centre Higher capacity after facelift
Marina Bay Cruise Centre Singapore has just undergone a $40 million facelift, boosting the facility’s capacity from 6,800 to 11,700 passengers.
1 min
October 30, 2025
The Straits Times
A fading Europe struggles to be heard in new world order
On matters of economics as well as war and peace, the EU's attributes no longer serve it well in the hardball politics of today.
7 mins
October 30, 2025
The Straits Times
Vietnam steps up reclamation work on Da Nam reef in South China Sea
Beijing's measured response to Hanoi's efforts is strategic, says analyst
5 mins
October 30, 2025
The Straits Times
ALFAISALEYAH SHOULD BE PEAKING THIS TIME AROUND
Speedy five-time winner has twice won over this course and trip, fitter after three starts
3 mins
October 30, 2025
The Straits Times
What needs to be done before Singapore can make a decision on nuclear energy
Closely assessing nuclear technology, developing sound policies and raising the level of public understanding are key things that Singapore has to get right before it can make a decision on going nuclear, said the director of a new nuclear energy office in the Republic on Oct 29.
4 mins
October 30, 2025
The Straits Times
Last-start winner Max The Magician to double up
Oct 30 South Africa (Turffontein) preview
3 mins
October 30, 2025
The Straits Times
More food reaches Gaza, but many cannot afford it
Hundreds of trucks enter the Gaza Strip daily now. Some carry aid from international organisations. Others bring donations from foreign governments.
4 mins
October 30, 2025
Listen
Translate
Change font size