Gucci parent company Kering reports slump in sales and profits

For some time now, the poor performance by Gucci on the luxury goods company's performance. Now the company has reported poor figures again.

Kering's revenue in the first half of 2025 amounted to €7.6 billion, down 16 percent from the previous year. Following a 24 percent decline in the first quarter, the second quarter saw an 18 percent drop. Even more dramatic was the 46 percent drop in profits to €474 million.

The main brand Gucci, with which Kering generates around 40 percent of its sales, once again proved to be particularly problematic, with a sales decline of 26 percent to just over three billion euros in the first half of the year.

In the second quarter, Kering recorded declines in sales worldwide across all brands and divisions: North America (-10%), Asia-Pacific (-19%), Western Europe (-17%) and Japan (-29%).

To halt the downward trend, Kering is reorienting itself: new creative directors at key brands and strategic investments are intended to boost demand. At the same time, distribution and costs are being optimized. Luca de Meo takes over as CEO, while François-Henri Pinault remains Chairman of the Board.

“Although the figures we reported are far below our potential, we are convinced that our comprehensive efforts over the past two years have laid a solid foundation for Kering’s next phases of development,” said François-Henri Pinault.