Kering, which operates luxury brands, has reorganized its luxury division to specialize by category, with the aim of developing the group's luxury business.

The entire luxury division will be directly overseen by Kering Chairman and CEO François-Henri Pinault. Pinault commented, "This reorganization was necessary to further integrate the group. It will enable us to respond to the needs of each brand as they evolve, accelerating growth while respecting their individuality." The Couture & Leather Goods division will include Bottega Veneta, Saint Laurent, Alexander McQueen, McQ, Balenciaga, Brioni, Christopher Kane, Stella McCartney, Tomas Maier, and Sergio Rossi, while the Watches & Jewelry division will include Boucheron, Girard-Perregaux, Jean Richard, Pomellato, Dodo, and Qeelin, with Gucci placed directly under the division. Marco Bizzarri will assume the role of CEO of Couture & Leather Goods, and Albert Bensoussan will assume the role of CEO of Watches & Leather Goods. Alexis Babeau, who has been in charge of the Luxury Division since March 2011, will leave Kering.