Companies

Kering reports quarter-on-quarter improvement

Oct 23, 2025 France

The France-based group reported a sequential improvement in its latest quarter, reducing its revenue decline. Gucci also performed slightly better, thanks to stronger momentum in North America and Western Europe

In the third quarter of the 2025 financial year, Kering reported a revenue of 3.4 billion euros, representing a 10% decrease (or a 5% decrease on an organic basis), as compared to the same period in the previous financial year. This figure includes a negative currency effect of 5%.

Although negative, the 5% decrease in organic revenue represents a sharp improvement on the second quarter (a 15% decrease), of which approximately half is due to the performance of Kering’s Houses against a favourable base of comparison.

Kering also noted that organic sales from its directly operated retail network fell by 6% year-on-year, with an improvement on the previous quarter being seen in all regions (when sales fell by 16%). In the same period, wholesale and other revenue fell by 2% year-on-year on an organic basis.

Luca de Meo, CEO of the group, emphasised that “while representing a clear sequential improvement”, the performance “remains far below that of the market”.

“This reinforces my determination to work on all dimensions of the business to return our Houses and the Group to the prominence they deserve. We are working relentlessly on our turnaround, as shown by our recent decisions”. Kering recently announced that it would sell its beauty division to L’Oréal, while also postponing the Valentino deal.

Ultimately, in the first nine months of the year, the group generated a revenue of 11.0 billion euros. This was down by 14% as reported and down by 12% on an organic basis, as compared to the same period in 2024.

Houses

In the third quarter of the year, Gucci’s revenue totalled 1.3 billion euros, reflecting an 18% decline on a reported basis and a 14% decline on an organic basis, on a comparable basis to the same period of the prior year.

Kering credited its “sharp sequential improvement compared to the second quarter to a stronger momentum in North America and Western Europe, along with the success of new products, particularly leather goods”.

On a comparable basis to the third quarter of last year, Yves Saint Laurent’s revenue totalled 620 million euros, marking a 7% decrease on a reported basis and a 4% decrease on an organic basis. Meanwhile, Bottega Veneta’s revenue amounted to 393 million euros, representing a 1% decrease on a reported basis and a 3% increase on an organic basis.

Finally, revenue from the Other Houses totalled 652 million euros in the third quarter, representing a 5% decrease on a reported basis and a 1% increase on an organic basis, as compared to the same period in 2024.

Image Credits: wwd.com

France Companies Gucci Kering Luxury Quarter Results Results