"The French luxury goods house, which owns brands like Balenciaga, Gucci, and Yves Saint Laurent, reported 3.42 billion euros ($3.97 billion) in group revenue, down 5% year-over-year (YOY) compared to a 15% drop in quarter-two. It also beat Wall Street's estimate of a 9.6% decline, according to consensus estimates cited by Reuters. Kering attributed the reduced revenue YOY, in part, to a negative currency effect of 5%."
"luxury brands have struggled in recent years, with blame boomeranging between factors like changing desires among young consumers, a domino effect from the COVID-19 pandemic, and a downturn in China-one of luxury's biggest markets. At Kering, Gucci, specifically, was still in a lull, though it saw an improvement over quarter two's 25% drop. The brand just beat its predicted revenue of 1.32 billion euros ($1.53 billion), with 1.34 billion euros ($1.56 billion) and a 14% decline YOY, according to consensus estimates cited by CNBC."
""Kering's third-quarter performance, while representing a clear sequential improvement, remains far below that of the market," Kering CEO Luca de Meo said in a statement. "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 reported €3.42 billion in group revenue for Q3 2025, a 5% year-over-year decline versus a 15% drop in Q2. The group outperformed the consensus estimate of a 9.6% fall and cited a negative 5% currency effect as a factor. Gucci revenue fell 14% to €1.34 billion but improved versus the prior quarter’s 25% decline. Yves Saint Laurent revenue decreased 4%, while Bottega Veneta rose 3% and Kering Eyewear rose 7%. CEO Luca de Meo signaled determination to pursue a turnaround and recent strategic decisions to restore the Houses’ prominence.
Read at Fast Company
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