Companies

Kering’s revenue and profits tumble in the first half

Jul 31, 2025 France

The parent company of Gucci and Yves Saint Laurent continues to struggle. In the first half of the year, revenue declined by 16% and net profit declined by 46%, as compared to the same period last year

In the first half of 2025, Kering experienced a 16% decline in revenue, or 15% on a comparable basis, to 7.6 billion euros, as compared to the same period the previous year.

In the second quarter alone, revenue fell by 18% (or 15% on a comparable basis), totalling 3.7 billion euros, on a comparable basis to the same quarter of 2024. Trends in the directly operated retail network in North America and the Asia-Pacific region showed slight improvements (down by 10% and 19% year-on-year), while Western Europe and Japan decelerated (down by 17% and 19% year-on-year).

Kering reported a recurring operating income of 969 million euros in the first half of the year, a 39% decrease, as compared to the same period last year. Net profit also decreased in this period by 46% to 474 million euros.

François-Henri Pinault, the group’s Chairman and Chief Executive Officer, pointed out that the past six months had been a “period of momentous decisions” for the company. These included the appointment of Luca de Meo as Group CEO (effective from September), with Pinault retaining the chairmanship. The company also strengthened its creative team, appointing Demna to lead the creative direction at Gucci and Louise Trotter at Bottega Veneta.

In the first half of the year, Gucci’s revenue amounted to 3.0 billion euros, down by 26%, or 25% on a comparable basis, while Bottega Beneta’s revenue amounted to 846 million euros, up by 1%, or 2% on a comparable basis, as compared to the first half of 2024. Meanwhile, Yves Saint Laurent’s first half revenue totalled 1.3 billion euros, down by 11%, or 10% on a comparable basis.

“On the operational and financial fronts, in a particularly tough market environment, we continued to streamline our distribution and cost base, and, executing on our roadmap, we took decisive steps to strengthen our financial structure. 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”, concluded Pinault.

Image Credits: purseblog.com

France Companies Kering Luxury Quarter Results Results