Forming the “Mylo Consortium” and investing a seven-figure sum.
The German sportswear brand’s shares tumbled in response.
The Pyer Moss founder and Francois-Henri Pinault created a conscious lifestyle imprint.
Gucci’s revenue took the biggest hit.
Unsurprisingly, high turnover is purely a result of the bottom line.
Major points to Gryffindor.
Gucci was at a particular loss, while Bottega Veneta grew.
Kering SA and Burberry Group Plc. have also reported similar drops.
CEO François-Henri Pinault also confirmed that he dropped out of last year’s Versace bidding.
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