Kering, the renowned French luxury conglomerate, is set to introduce an engaging employee shareholding program, named #KeringForYou, this month. As part of this initiative, employees will have the chance to acquire shares at a preferential price, transforming them into shareholders of the company. This marks the first time that Kering has introduced such a program.
The price of the shares will be determined on May 17th, with the subscription period commencing from May 19th and lasting until June 9th. The pricing will be based on the average opening price of Kering shares on the Euronext Paris exchange over the previous 20 trading days, with a 20% discount and rounding up to the nearest cent. At present, the share price of Kering stands at 480.85 euros.
The success of Kering in recent years has been intrinsically tied to the commitment and contributions of its employees, who continuously push boundaries to shape an authentic, modern, and responsible luxury industry. The introduction of the employee shareholding program serves as a tribute to their hard work and dedication to the company’s culture. Moreover, it showcases the CEO’s belief in their commitment and in the future prospects of Kering.
After attaining a revenue of 17.6 billion euros in 2021, Kering reported an impressive 27% increase in results for the first quarter of 2022. The shareholding operation will involve a maximum of 200,000 shares, equating to a potential capital increase of up to 0.16% of the company’s overall capital.
The #KeringForYou program will be accessible to employees in France, Italy, the United Kingdom, the United States, mainland China, Hong Kong, Japan, and South Korea. As of last year, Kering employed a global workforce of over 42,000 individuals.
Through allowing its employees to become shareholders, Kering aims to foster a sense of ownership and to align their interests with the company’s performance. This strategic move not only benefits the employees themselves but also reinforces Kering’s commitment to its workforce and its future vision.
Useful links:
1. Learn more about Kering’s #KeringForYou program here.
2. Visit Kering’s official website for more information about the company and its initiatives.
