Kering 's return to growth will require reducing its reliance on struggling flagship Gucci , further scaling back its store network and chasing more synergies, Chief Executive Luca de Meo said in a memo seen by Reuters.

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The document, a summary of a more detailed memo dubbed "ReconKering" recently sent to senior staff, offers the first detailed overview of de Meo's strategic vision for the group.

Emerging less than a month after the group struck a deal to offload its beauty divisionin a $4.7 billion euro deal with l"Oreal to raise much-needed cash and focus on its core luxury fashion business, the note is marked by a candid, yet modest tone.

"We remain humble," de Meo wrote in the note, saying that his ambition was to "become the undisputed challenger in luxury" in f

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