• Kering: Completion of the stock repurchase program

    Source: Nasdaq GlobeNewswire / 19 Dec 2022 10:45:00   America/Chicago

    PRESS RELEASE

     
    December 19, 2022

    COMPLETION OF THE STOCK REPURCHASE PROGRAM

    The Stock Repurchase Program announced on August 25, 2021, with the aim of repurchasing up to 2.0% of Kering's share capital over a 24-month period, was completed on December 15, 2022.

    Between August 25, 2021 and December 15, 2022, 2.6 million shares were repurchased.

    Of these total, 1,050,000 shares have already been cancelled.

    It will be proposed at the next meeting of the Board of Directors on February 14, 2023 to cancel 650,000 additional shares, thus bringing the total number of shares cancelled to 1.7 million.

    The table below shows a summary of the program's various tranches:

      Tranche 1 Tranche 2 Tranche 3 Tranche 4
    Repurchase period From August 25 to November 3, 2021 From February 23
    to April 6, 2022     		From May 18
    to July 19, 2022     		From October 24
    to December 15, 2022
    Number of shares repurchased 650,000 shares, representing around 0.5% of the share capital 650,000 shares, representing around 0.5% of the share capital 650,000 shares, representing around 0.5% of the share capital 650,000 shares, representing around 0.5% of the share capital
    Average price of the repurchased shares €643.70 per share €578.71 per share €485.53 per share €511.71 per share
    Use of the repurchased shares 325,000 shares were canceled on December 10, 2021, pursuant to a decision by the Board of Directors at its meeting on December 9, 2021 325,000 shares were canceled on December 12, 2022, pursuant to a decision by the Board of Directors at its meeting on April 28, 2022 400,000 shares were canceled on December 12, 2022, pursuant to a decision by the Board of Directors at its meeting on July 27, 2022 It will be proposed at the next meeting of the Board of Directors on February 14, 2023 to cancel 650,000 shares

    About Kering

    A global Luxury group, Kering manages the development of a series of renowned Houses in Fashion, Leather Goods, Jewelry: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, as well as Kering Eyewear. By placing creativity at the heart of its strategy, Kering enables its Houses to set new limits in terms of their creative expression while crafting tomorrow’s Luxury in a sustainable and responsible way. We capture these beliefs in our signature: “Empowering Imagination”.
    In 2021, Kering had over 42,000 employees and revenue of €17.6 billion.

    Contacts

          		   
    Press    
    Emilie Gargatte +33 (0)1 45 64 61 20 emilie.gargatte@kering.com   
    Marie de Montreynaud         +33 (0)1 45 64 62 53 marie.demontreynaud@kering.com
         
    Analysts/investors    
    Claire Roblet +33 (0)1 45 64 61 49 claire.roblet@kering.com
    Julien Brosillon +33 (0)1 45 64 62 30 julien.brosillon@kering.com

     

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