Gucci-owner shares Kering POP POP 7% Reports Renault-en de Meo was the next CEO

Shares of the French fashion house Dry Monday 7% came out in reports that Luca de Meo has been named. The owner of Gucci and Saint Laurent begins in the final phase of his turn effort.

The General Manager of Renault was confirmed by the Departure of Vereal on Sunday, claimed by the French Carmaker “to take new external challenges” carmakers “.

De Meo first went to Kering, the first time Le Figaro newspaper reported on Sunday. Kering refused to comment on reports when contacting CNBC.

Kering shares rose by 7.2% at 8:34 AM London time investors and analysts encouraged reports. Renault shares, on the other hand, threw 7%.

“Market management and marketing (de Meo’s) are, along with the luxury industry,” Bernstein analysts wrote on Monday.

De Meo is seen with a strong record record for more than 30 years, including work in the self-sector ToyotaFiat and Volkswagen. Italy celebrates Renault’s shifts in its helmet in its five years, shares more than 90%.

The challenges of the luxury sector, however, are Loom big. Kering shares dropped more than 60% over the past two years, a series of profit warning and designer changes in Gucci.

President of the current General Manager of Kering and President François-Henri Pinault, a member of the group that controls the group has two decades, but actively works in its sequence, back To Reuters, referring to sources. Pinault wants to split the roles of the chair and the Director General, according to sources. There was no light chair whether or not.

Thomas Chauvet, analyst of the main equity in Citi, took the turn of Renault-en de meo, as well as the technological innovation and brand. However, the challenges of the prospective function that stood out.

“Luxury brand turn enforcement is more complex, more cost, more expensive and much more public.

“There is still a large number of work in Gucci and Saint Laurent … Two brands rejuvenate and create a constant current income and cash flows, if you get it, it can be multiple scores again,” he added.

In April, dry distribute It is worse than expected to be a decline between 14% in the first quarter of sales and before they pointed to macroeconomic heads. In sales in Gucci, almost the group’s revenue, LED losses, 25% fall.