Short sellers are offloading their negative bets against Kering S.A., as the troubled luxury giant looks to mount a fightback under new CEO Luca de Meo following years of upheaval. Short sellers look to benefit from a company's falling share price by borrowing its stock to sell on the open market, then later buying it back at a lower price. Shares of the Paris-headquartered multinational – which counts Gucci, Saint Laurent, Balenciaga, and Alexander McQueen among its key brands – rose 0.67% to the Thursday close after new CEO Luca de Meo, who took up his position on Sept. 15, appointed deputy group CEO Francesca Bellettini to reinvigorate Gucci. De Meo, who was hired from Renault, is tasked with shaking up the group, which has struggled with U.S. tariff pressures and falling demand for lux

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