H1 results ‘well below potential’, Kering says
Luxury group Kering has reported first-half revenues of just under €7.6 billion. This is down by 16% compared to the same period in 2024.
Its biggest brand, Gucci, contributed €3 billion to the total, but this figure represents a decline of 26% year on year. The group said Gucci’s newer leathergoods lines were “very successful” in the most recent quarter.
Yves Saint Laurent’s revenues in the first six months of 2025 reached €1.3 billion, down by 11% year on year.
Once again, Bottega Veneta was the brand that provided most solace to Kering, with revenues of €846 million for the first half. This represents growth of 1% compared to the same period last year.
Commenting on the results, group chairman and outgoing chief executive, François-Henri Pinault, said: “Though the numbers we are reporting remain well below our potential, we are certain that our comprehensive efforts of the past two years have set healthy foundations for the next stages in Kering’s development.”
He reiterated that it was he who had recommended to the board that new chief executive, Luca de Meo, take over in September.
