Business · Companies · 9 hrs ago
Kering revenue holds steady as Gucci sales continue to fall
French luxury group Kering reported third-quarter revenue of 3.345 billion, stable overall but down 1% on a comparable basis.
Gucci brought in 1.291 billion, with revenue down 4% and down 6% on a comparable basis.
Other brands, including Saint Laurent, Bottega Veneta and Brioni, performed in line with expectations.
Kering said it has removed 100 stores and plans to close 125 stores this year.
Reviving Gucci remains Kering's top priority, as the group says it needs to restore the brand's momentum to reach its full potential.
CEO Luca de Meo said the recovery will take several seasons, while Kering continues to strengthen the brand and develop products.
Kering reported third-quarter revenue of €3.345 billion, stable overall but down 1% on a comparable basis.
Gucci revenue fell 4% to €1.291 billion, or 6% on a comparable basis.
Revenue for the first nine months was €10.565 billion, down 2% overall and stable on a comparable basis.
Kering said its other brands, including Saint Laurent, Bottega Veneta and Brioni, performed in line with expectations.
Chief executive Luca de Meo said reviving Gucci remained the group’s top priority and would take several seasons.
- Who
- Kering, including its Gucci brand.
- What
- Kering reported stable third-quarter revenue overall, while Gucci sales continued to fall.
- When
- The third quarter of 2026; the report was published on 22 October 2026.
- Where
- Not stated.
- Why
- Kering said the quarter reflected its expectations in a less favourable macroeconomic context.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Kering third-quarter revenue
- €3.345 billion
- Kering comparable third-quarter revenue
- Down 1%
- Gucci third-quarter revenue
- €1.291 billion
- Gucci comparable third-quarter revenue
- Down 6%
- Kering revenue in first nine months
- €10.565 billion
What people are saying
The third-quarter revenue reflects the trend we had expected, in a less favourable macroeconomic context.
The recovery of Gucci remains our absolute priority.
To fully release the group's potential, it is necessary to give Gucci new momentum.
It will take several seasons.