Kering Shares Fall 12% After Demna's Gucci Appointment

Kering shares dropped a significant 12% on Friday morning, following the announcement of Demna's appointment at Gucci on Thursday afternoon.According to Business of Fashion, several analysts stated that Demna was a "risky pick for much larger label Gucci with its reputation for timeless elegance." Insiders at Jeffries said that the designer's move came as a surprise, and J.P. Morgan analysts called it a "controversial choice.""We think that at this stage, the announcement brings as much risks as...