Commerce
February 24, 2014
By Joe McCarthy
Kering's profits plummeted and its debt rose in 2013, but the conglomerate's luxury restructuring has already begun to pay off.
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","iv":"46dd67aeb9442849e6d61bbe958654b8","s":"e556b76284c22d01"}
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