French luxury conglomerate Kering has unveiled a comprehensive turnaround plan designed to revive its flagship Gucci brand and double the company's profits. The ambitious restructuring initiative represents a significant strategic shift for the luxury giant as it seeks to restore its financial performance.

The plan focuses on restoring financial discipline and operational efficiency across Kering's operations while prioritizing a refresh of creative direction and product lineups. Gucci, which has been a key profit driver for Kering, has faced challenges in recent years that the company aims to address through this strategic overhaul.

Kering stated that the structural reset would be completed within this year, indicating an accelerated timeline for implementing the changes. The company views this initiative as essential for reviving its fortunes in the competitive luxury goods market.

The turnaround effort comes as luxury brands face evolving consumer preferences and market dynamics. Kering's leadership believes the comprehensive approach addressing both operational and creative elements will position the company for sustained growth and improved financial performance in the luxury sector.