Apparently, Hope Is Back and It’s Wearing Gucci. On Thursday in Paris, Kering shares shot up 8.7% to €344.95. Investors, ever the optimists when they spot the faintest glimmer of light in a fog of financial data, saw a spark of hope in the third-quarter results and ran with it, as if Gucci had just announced a free handbag for every shareholder.

As a result, Kering’s market capitalization now tops €42 billion. The group even achieved the best performance among the 98 global fashion giants. Just goes to show: a good story can sometimes outperform an actual good collection.

The company, ever so “prudent,” continues to focus on “innovation” at Gucci that magic word that can rebrand any sales dip as a “strategic transition.” Meanwhile, Demna, Balenciaga’s resident wizard, keeps experimenting with post-irony fashion (and investors keep experimenting with faith).

According to analysts, Kering is setting itself up for a bright future with a faster, more disciplined supply chain. A revolutionary idea: delivering on time. If it works, other companies might even try it.

FM