Published by Global Banking & Finance Review®
Posted on June 27, 2025
2 min readLast updated: January 23, 2026
Add as preferred source on GoogleParvus Asset Management has increased its stake in Kering to 5%, as the luxury group faces market pressures and leadership changes.
PARIS -Parvus Asset Management, a hedge fund registered in Britain, has raised its stake in Kering, a filing by France's financial regulator showed on Friday, now holding around 5% of the group's share capital.
The filing comes as Kering is under increased market pressure, with shares down by over 60% in the past two years after a string of profit warnings and designer changes at its Italian flagship label Gucci.
Dealing with the London-based fund known for its activist approach adds to the list of challenges of incoming chief executive Luca de Meo, who will take over the helm in September.
Kering declined to comment, while Parvus did not immediately reply to a request for comment.
The hedge fund has declared that it breached the regulatory threshold of 5% of Kering's share capital, and 3.5% of its voting rights, on Friday, the filing by France's AMF regulator said.
It was previously cited as a shareholder with a 4% equity stake and 2.9% of voting rights in Kering's last annual report.
The firm, which earlier targeted budget airline Ryanair and Italian bank UniCredit, has recently also built up a stake in Danish drugmaker Novo Nordisk, the Financial Times reported earlier this month.
(reporting by Tassilo Hummel;Editing by Sudip Kar-Gupta and Louise Heavens)
Parvus Asset Management now holds around 5% of Kering's share capital.
Kering is under increased market pressure, with shares down over 60% in the past two years due to profit warnings and designer changes.
Luca de Meo is set to take over as chief executive of Kering in September.
Before increasing its stake, Parvus was cited as a shareholder with a 4% equity stake and 2.9% of voting rights.
Parvus has previously targeted budget airline Ryanair and Italian bank UniCredit, and has also built a stake in Danish drugmaker Novo Nordisk.
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