Alexander McQueen in Italy Faces Restructuring Amid Kering’s Cost-Cutting Measures

Alexander McQueen is continuing its cutbacks with a major adjustment in Italy. The London-based fashion house, owned by French holding company Kering, plans to cut around a third of its workforce in the country, unions told Reuters this week.

The plan is expected to affect the company’s structure in Italy, where the brand created by the British designer of the same name currently employs a total of 180 workers in three units, according to a union official quoted by the agency. Workers’ representatives warn that the restructuring could also have repercussions on the brand’s local supply chain.

The background, the unions argue, is a continued deterioration of the business. In meetings with management, Alexander McQueen reportedly described an emergency scenario marked by a sharp drop in sales volumes and units produced, following a 60% decline in turnover over the past three years.

The company has confirmed that it is “initiating a formal consultation process with the unions” in its Italian business. Alexander McQueen frames the move as part of a group-wide effort to return to sustainable profitability over the next three years. The process is also part of the strategic reform process of Kering’s new group CEO, Luca De Meo, who took over leadership of the company last year.

Alexander McQueen has suffered a 60% decline in turnover over the past three years.

Kering, which is also going through a time of pressure on the business, said in a statement that it “fully supports” Alexander McQueen’s strategic transformation and expressed confidence that the measures will strengthen its position in the global luxury market. In Alexander McQueen reached a turnover of 820 million in 2022, according to market estimates.

The adjustment in Italy comes after the firm confirmed job cuts at its UK office last year as part of a wider strategic review.

Union leaders are scheduled to meet with Luca de Meo, Kering’s CEO, on February 5. The meeting will address the scope of the plan and its potential impact on the Italian industrial ecosystem working for the brand.

In the third quarter of the 2025 financial year, Kering posted a turnover of €3,415 million, down 5% on a like-for-like basis. The decline marked a clear improvement compared to the previous quarter, when sales slipped 15%. The company will publish its annual results on February 10, the first under Luca De Meo’s leadership.