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Full Year 2023 Kering SA Earnings Call Transcript
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Good morning to all of you, and welcome to Kering's 2023 Full Year Results Presentation.
2023 was a mixture for Kering. Market conditions began to deteriorate as many of our brands were evolving their operating models. And of course, as a consequence, our performance did not match our expectations. Against this backdrop, well, we made a series of far-reaching decisions both to speed up the transition and to seize opportunities for the long term.
As you've seen in the news release, I have decided together with our executive team that despite the current uncertain environment, well, we should not reduce our investment in the future. Our top priority is continue to enhance the exclusivity and the desirability of all of our Houses and of course, first and foremost, Gucci. This will cause some pressure on our result in the short term, and I am absolutely determined to make this short-term pain pay off in the long term.
So this morning, I will first go over last year's key takeaways and our
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