Stock Track | Coty Soars 5.09% Intraday on Kering CEO's Comments About Gucci License Discussions
Stock Track
Feb 10
Coty's stock price surged 5.09% during intraday trading on Tuesday, following remarks from Kering's CEO regarding the Gucci beauty license.
Kering CEO Luca de Meo declined to comment on whether he would be interested in taking back the Gucci beauty license from Coty before its 2028 expiry. However, he stated that the company continues to respect the current contract and expressed a desire to discuss the matter directly with Coty. This news likely reassured investors about the stability of the partnership and potential for constructive dialogue, leading to the positive market reaction.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.