Kering holds on to Alexander McQueen — and prescribes a drastic remedy

Kering is keeping Alexander McQueen, but the brand is being restructured. The French group has launched a radical plan to return the label to profitability within three years and secure its long-term growth. It is a tough, no-nonsense programme: it includes reductions in staff, stores and the menswear line. “This is a cultural, creative and…