Performance still “far below the market” for Kering
Paris-based luxury group Kering has reported revenues of €11 billion for the first nine months of 2025. This represents a fall of 14% year on year.
The figure for its biggest brand, Gucci, was just under €4.4 billion, which is 24% less than the brand’s revenues in the first nine months of last year.
For Yves Saint Laurent, revenues were €1.9 billion, down by 10% year on year.
As it has done throughout the extended downturn in the parent group’s fortunes, Bottega Veneta held its own. It achieved revenues that were just under €1.25 billion, flat with the figure for the same period in 2024.
Kering’s new chief executive, Luca de Meo, who took up the role on September 15, said there had been an improvement in the group’s figures in the third quarter, but that its performance remained “far below that of the market”.
He said this had reinforced his determination to work on all dimensions of the business to return the group and its brands “to the prominence they deserve”.
Mr de Meo added: “We are working relentlessly on our turnaround, as shown by our recent decisions.” The decisions he referred to include the appointment on September 17 of Francesca Bellettini as the new chief executive of Gucci, and a new strategic partnership for beauty and fragrance products with L’Oréal.
