McQueen’s crisis is worsening and the red warning light is on. The struggling brand, controlled by Kering, is preparing to cut 50–60 jobs in Italy (after layoffs announced in the United Kingdom). At least according to the restructuring plan aimed at avoiding further losses caused by a 60% drop in revenue over the past three years. Two weeks ago, rumors suggested that the OTB Group was evaluating a possible acquisition.
McQueen’s crisis worsens
The difficult situation facing the Alexander McQueen brand also affects the Italian supply chain. The brand plans to cut about one third of its workforce in Italy, where McQueen employs around 180 workers at its local facilities in Scandicci, Novara, and Parabiago, reported by Reuters. But the brand’s restructuring plan will have repercussions across its entire Italian production chain. Kering CEO Luca de Meo is expected to meet with trade union representatives on February 5 to discuss the future of the brand. As early as mid‑November, news had emerged of a “blood, sweat, and tears” plan by Kering to treat McQueen, a brand that a few years ago generated €800 million in revenue, which Kering wanted to grow beyond the €1 billion mark, but which has instead fallen below €200 million.
Are there offers?
With all the resulting economic and financial repercussions. Not only are jobs in Italy at risk: the brand had already warned (in October 2025) of the possible cut of 55 jobs at its London headquarters, equivalent to 20% of staff. Kering is said to have taken McQueen off the market, but its high level of debt, along with other factors, lead experts to believe that the French giant could waver in the face of a substantial offer. An offer that, according to ThePlatform, Renzo Rosso, founder of the OTB Group, may be considering. Will Kering put McQueen on a strict slimming cure to make it more attractive and then sell it?
Photo from Alexander McQueen
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