Luca de Meo promises leaner, faster Kering
Luxury group Kering has reported full-year revenues for 2025 of almost €14.7 billion. This is a fall of 13% compared to the previous year.
Its biggest brand, Gucci, contributed €6 billion to the total, down by 22% year on year. Kering pointed out that, in the fourth quarter, the fall in Gucci revenues was 10%. It described this as “a new sequential improvement”.
At Yves Saint Laurent, 2025 revenues amounted to €2.6 billion, down by 8%, while for Bottega Veneta, revenues for the year were flat at €1.7 billion. Kering said Yves Saint Laurent revenues for the fourth quarter were flat; at Bottega Veneta, there was a fourth-quarter increase of 3%.
Chief executive, Luca de Meo, who took up the role in September, said the group’s performance in 2025 did not reflect its “true potential”.
He added: “In the second half, we took decisive action, strengthening the balance sheet, tightening costs and making strategic choices that lay the foundations for our next chapter.”
Mr de Meo said Kering was preparing to put in place “a clear roadmap to boost the desirability of our luxury houses and reignite growth”. He insisted that what emerges from this will be “a leaner, faster Kering”.
