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Leila Al-Khatib

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PUBLISHED BY ICN PRESS

  • Kering aims to double its 2025 operating margin of 11.1% by the midterm horizon.
  • CEO Luca de Meo unveiled the ReconKering strategy during Capital Markets Day in Florence.
  • The company will cut Gucci outlets by one-third and refurbish two-thirds of stores.
  • Leather goods, ready-to-wear, and jewelry categories receive fresh revenue targets through 2030.

Gucci eyes a revival plan as Kering pushes a bold reset to escape a long luxury slump. CEO Luca de Meo shared the strategy during Capital Markets Day in Florence on Thursday. The plan, named ReconKering, targets double operating profits and stronger returns for patient investors. Kering wants to lift its 2025 operating margin of 11.1% to over 20% return on capital. Shares dropped 4.3% by mid-morning as markets weighed execution risk against ambitious long-range goals.

Kering turnaround plan sets new financial targets

The Kering turnaround plan reshapes how the group runs stores, inventory, and pricing across its brands. Kering will refurbish or relocate two-thirds of Gucci outlets before the 2030 deadline. You will see selling space drop 20% and total store count fall by one third. The group wants to cut overall inventory by 1 billion euros over the next twelve months. De Meo stated clearly, “A model that worked for a decade is no longer effective for us.”

From my standpoint, these targets signal a sharper focus on quality revenue over flashy scale. Kering also wants to double sales density at Gucci by streamlining stores and lifting productivity everywhere. The ReconKering strategy guides every major decision inside the Florence-based luxury conglomerate today.

ANOTHER MUST-READ ON ICN.LIVE: John Ternus Is the New Apple CEO as Tim Cook Shifts to Chairman

Gucci eyes a revival plan through product and category resets

Gucci eyes a revival plan that places product identity and craftsmanship back at the center. Gucci leather goods will double their contribution to 20% of brand revenue by 2030. Kering targets an extra 1 billion euros from bags, 600 million from shoes, and ready-to-wear. Jewelry and watches will add another 500 million euros across the midterm horizon. De Meo said his priority is to make Gucci unmistakable, not louder or more complex.

He also noted the brand has lost some of its shine during the recent downturn. The team now builds fewer narratives, each one sharper and more coherent for loyal customers worldwide. You can see this reset already in stores through tighter collections and cleaner category pyramids.

Luca de Meo tackles the wider luxury slump

Luca de Meo took over seven months ago and moved fast on debt and structure. He closed the sale of the beauty division to L’Oreal in March for 4 billion euros. Citi analysts asked how quickly Gucci can return to healthy growth during this luxury slump. Gucci posted its 11th straight quarter of organic sales decline, according to Tuesday’s Kering report. The Middle East conflict also weighed on demand across several key retail regions this quarter.

Kering wants to reduce group dependence on Gucci by strengthening Saint Laurent, Bottega Veneta, and Balenciaga. Saint Laurent will push fashion authority, menswear, and Asia with a sharper focus through 2030. Bottega Veneta becomes the emblem of deep luxury inside the wider group portfolio. Balenciaga targets younger shoppers through bold creative direction and tighter category execution. Gucci eyes a revival plan, and the wider Kering turnaround plan shapes every brand inside the group.

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  • Business, Fashion, Gucci

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Apple's iPhone Duo
  • iPhone

The iPhone Duo is Apple’s first foldable iPhone, and it opens like a small book into a 7.6-inch screen. Closed, you hold a 5.4-inch outer display that fits in a pocket. Both screens share the same aspect ratio, so a video or app scales cleanly as you move between them. Stand it up on a table, and it works hands-free for calls or video. Apple showed the phone on September 9 at its Surprise and Shine event in Cupertino, where new chief executive John Ternus led his first keynote. He said rival foldables often feel like two phones stuck together. The Duo tries to feel like one device that changes size when you need it.

What the screens and camera can do

Open the Duo and the inner display runs 50 percent larger than the iPhone 18 Pro Max. A custom nano-texture finish cuts glare and hides the crease, the seam that has annoyed foldable owners for years. Peak brightness reaches 3000 nits, so the screen stays readable outdoors. Inside, an under-display FaceTime camera keeps the view whole, with no notch breaking the screen. The rear camera leans on a 48MP Dual Fusion system with a main and an ultra-wide lens. There is no telephoto, a trade Apple made to save room in the thin body. Smart Take reads the scene and snaps the photo when everyone poses, so you can stand in the shot instead of behind it. You can also shoot 48MP photos and 4K video at up to 120 frames per second.

iPhone Duo specs that matter for daily use

The iPhone Duo specs point to a phone built for long, heavy days. Inside sits the A20 Pro chip with a vapor chamber that spreads heat during games and video edits. Apple pairs it with a dual-battery design that fits more cells into the frame. You get up to 31 hours of video on the inner screen and up to 44 hours on the outer one. Plug it in, and it reaches 50 percent in about 20 minutes. A Grade 5 titanium frame and a precision hinge give the body its strength, and Touch ID moves to the side button in place of Face ID.

iPhone Duo prices are ridiculously high

Here is the part your wallet cares about. The iPhone Duo price starts at $1,999 for 256GB in the United States, which makes it the most expensive iPhone in the lineup. In the UAE, iPhone Duo starts at AED 8,499 for the 256 GB, AED 9,349 for the 512 GB, AED 11,049 for the 1 TB, and the laptop-price level of AED 13,599 for the 2 TB. Preorders open October 16, and the iPhone Duo release date lands on October 23. Apple plans a first wave across more than 70 countries, then adds 28 more on October 30. For comparison, Samsung’s Galaxy Z Fold 8 starts near $1,899.

Why the foldable iPhone arrives only now

Apple waited years while Samsung and others sold foldables. Now the foldable iPhone brings iOS 27 features built for two screens, like Split View and apps that respond to how you hold the phone. eSIM handles the connection, since there is no SIM tray anywhere. Apple Pencil support arrives later in 2026. That gap of a few weeks after the iPhone 18 Pro points to a slower, careful rollout for a harder build. If you have wanted a phone that turns into a small tablet without feeling clumsy, this is Apple’s answer, and you can hold one this month.

  • 3 min read
Work from Park initiative
  • Business

The Work from Park initiative puts bookable workspaces inside Dubai’s public parks, starting with Al Barsha Pond Park. Dubai Municipality announced the programme on 19 April 2026 and said it had signed two memoranda of cooperation to deliver it. One went to Group AMANA, which builds the units, and the other to Letswork LLC, which operates them.

Entrepreneurs, freelancers, small and medium-sized enterprises

The structure is a public-private partnership. Dubai Municipality provides the park and the mandate. Private firms handle design, construction, and daily operation. The municipality said the model gives the private sector a route into public facilities while each site keeps its role as a park.

Target users are entrepreneurs, freelancers, small and medium-sized enterprises, and anyone doing remote work in Dubai. Content creators get dedicated production rooms, which the municipality said are meant to strengthen their place in the emirate’s creative economy.

Letswork runs the booking side. Users reserve space through the Letswork app, check in on arrival and use one membership across the company’s network of venues. The offer covers desks by the hour, event space, podcast recording and production rooms for creators. Letswork will also run training programmes and group sessions for creative talent and new businesses.

How the Work from Park initiative is built

Group AMANA delivers the first site through its DuBox unit. DuBox builds the workspace modules in a factory, then transports them to the park and assembles them on site. The municipality said this shortens the build schedule, reduces waste and lowers the environmental footprint compared with conventional construction. Units can be reconfigured later as demand shifts.

The Al Barsha Pond Park site was scheduled to open in May 2026. Letswork now lists it as a bookable venue on its platform. The listing describes modular pods with high-speed Wi-Fi, power and climate-controlled seating, plus podcast studios and creative production rooms. Members can book day passes, meeting rooms and private offices under one Letswork membership.

Dubai Municipality said the Work from Park initiative would add more sites across the emirate later in 2026. Locations and opening dates for those have yet to be confirmed.

Bader Anwahi, CEO of the Public Facilities Agency at Dubai Municipality, said the partnerships combine advanced construction methods with private sector expertise to produce public infrastructure “that is flexible, sustainable, and aligned with modern lifestyles and work patterns.”

Richard Abboud, CEO of Group AMANA, said modular construction lets the company build efficient, adaptable units at speed.

Why the Work from Park initiative fits Dubai’s planning goals

The programme sits under three policy frameworks. Dubai’s 2040 Parks and Greenery Strategy targets 95 million park visits a year by 2040. Land use falls under the Dubai Urban Plan 2040. Economic targets through 2033 come from the Dubai Economic Agenda D33.

Omar AlMheiri, co-founder of Letswork, said the partnership would add dedicated creative spaces and podcast studios. He described it as a step toward changing where and how people in the UAE do flexible work.

Dubai Municipality describes the Work from Park initiative as the first of its kind. Existing Dubai coworking spaces operate from office towers, hotels and retail sites. This programme moves the format onto municipal parkland, with the municipality as host and a private platform as operator.

Outdoor workspaces in Dubai face one obvious constraint: summer heat. The Letswork listing addresses this with climate-controlled seating inside the pods. Demand across a full year of operation will show whether the format holds. The second site, once announced, will be the next signal of how fast the municipality intends to scale.

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