In a sign of the growing relationship between luxury and tech, Kering officially welcomed a senior Google executive to its board.
“When the pandemic started, it felt like we were going into a tunnel in 2020. And when we came out of it, it almost feels like 2030. The predictions that we had in terms of e-commerce, in terms of number of people online, in terms of even people just starting to email for the first time, they were 2030 predictions that happened in two years. That’s an incredible pace,” she said.“And I see that when I look at the search interest online for luxury.
“It’s very interesting to see that the big-tech players differ a lot when it comes to the advent of this new internet,” he added, noting that while Facebook was very bullish on the metaverse , Google was taking a more cautious stance. By contrast, Kering has already participated in several virtual initiatives, with Gucci selling a digital version of its Dionysus bag on Roblox for about $4,115, roughly 20 percent more than the physical object.in the first quarter, Kering has seen its shares tumble by more than 28 percent since the start of the year. This compares with a 15 percent decline for LVMH, its larger rival.
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