PARIS — Kering is ramping up its cost-cutting efforts as it prepares to welcome new chief executive officer Luca de Meo , who has a reputation as a “cost killer” specialized in turning around ailing companies.

Much of the presentation of the French luxury group’s first-half results on Tuesday focused on its efforts to slash expenditures and curb debt, which include closing stores, selling real estate and reducing headcount.

Kering is battling to stem the ongoing hemorrhage at Gucci , which posted another 25 percent decline in organic sales in the second quarter as consumers wait for new creative director Demna ’s debut presentation in September, which will be accompanied by a sprinkling of see-now, buy-now products in stores.

Group net profit plummeted 46 percent in the firs

See Full Page