Kering CEO calls for department store reinvention following Saks Global collapse
Kering CEO Luca De Meo stated today that the crisis at Saks Global highlights the need for a new distribution model. He plans to reduce wholesale reliance.
Insights:
Luca De Meo, the CEO of Kering , stated on February 10, 2026, that the crisis currently impacting the high-end department-store conglomerate Saks Global demonstrates that the traditional department-store distribution model must be reinvented. These remarks were made immediately following the presentation of the group's annual results, where De Meo argued that the company needs to significantly reduce its reliance on wholesale channels to maintain its strategic positioning in the luxury market.
