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    KER   FR0000121485

KERING

(KER)
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Kering : Kerig says brands Gucci, Yves Saint Laurent, others to stop using animal fur

09/24/2021 | 09:19am EDT

French luxury group Kerig -- which owns brands Gucci, Yves Saint Laurent and Balenciaga -- announced on Friday that it's banning the use of animal fur across all companies beginning next year.

Kerig said the ban will take effect in time for its fall 2022 collection.

Kerig said its brands, which have occasionally used fur in their products, will opt for more environmentally friendly alternatives. Some, like Gucci, Balenciaga, Bottega Veneta and Alexander McQueen, have already stopped using fur.

"For many years, Kering has sought to take the lead in sustainability, guided by a vision of luxury that is inseparable from the very highest environmental and social values and standards," Kerig CEO Francois-Henri Pinault said in a statement.

"The time has now come to take a further step forward by ending the use of fur in all our collections. The world has changed, along with our clients, and luxury naturally needs to adapt to that."

Kerig set animal welfare standards concerning animal fibers and materials two years ago.

Many apparel makers have changed their policies on fur in recent years due to concerns about animal cruelty.

Copyright 2021 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source International Top News

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Analyst Recommendations on KERING
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Financials
Sales 2021 16 786 M 19 472 M 19 472 M
Net income 2021 3 094 M 3 589 M 3 589 M
Net Debt 2021 4 361 M 5 059 M 5 059 M
P/E ratio 2021 27,1x
Yield 2021 1,65%
Capitalization 83 070 M 96 369 M 96 362 M
EV / Sales 2021 5,21x
EV / Sales 2022 4,64x
Nbr of Employees 33 134
Free-Float 58,2%
Chart KERING
Duration : Period :
Kering Technical Analysis Chart | KER | FR0000121485 | MarketScreener
Technical analysis trends KERING
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 27
Last Close Price 668,80 €
Average target price 784,04 €
Spread / Average Target 17,2%
EPS Revisions
Managers and Directors
Franšois Jean Henri Pinault Chairman & Chief Executive Officer
Jean-Marc Duplaix Chief Financial Officer
Yseulys Costes Independent Director
Daniela Riccardi Independent Director
Sophie L'HÚlias Lead Independent Director
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