A Gucci store, operated by Kering SA, in the Sanlitun area of Beijing, China, on Saturday, Oct. 12, 2024.
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Shares of Kering plunged on Friday after the company announced that Demna Gvasalia would take the reins as new artistic director of its ailing Gucci fashion line.
Gvasalia, who joins from Balenciaga, replaced Sabato De Sarno, whose departure was announced last month.
Shares were down 10.37% by 8:19 a.m. London time.
This is a developing story and will be updated shortly.
