Kering reports ‘difficult start to the year’ as Gucci sales slip by 25%

By Pune Media On Apr 24, 2025

Luxury house Kering has today revealed its sales were down by 14% to €3.8 billion (£3.25 billion) in the first quarter of 2025 as it had “anticipated”. Gucci, its star player, took the biggest hit with revenues declining 25%.

Sales from the directly operated retail network fell by 16% on a comparable basis. Geographically, sales in Asia-Pacific were down 25%, while Western Europe saw sales dip by 13%, North America by 13% and Japan by 11%.

Wholesale revenue of the Group’s fashion houses dropped 23% on a comparable basis, due in particular to the ongoing “strengthening of their distribution’s exclusivity”. However, wholesale revenue from Kering Eyewear and Kering Beauté rose by 2%.

Brand Breakdown:

Gucci’s revenue was down by 24% to €1.6 billion (£1.3 billion), down 25%. However, during the quarter, Demna was named Gucci’s Artistic Director. Let’s see if he can get its desirability back on track.
Yves Saint Laurent’s revenue was down by 8% to €679 million (£580 million).
Bottega Veneta’s revenue was down by 4% to €405 million (£346 million).
Revenue from the Group’s Other Houses totalled €733 million (£637 million), down by 11%.
Kering Eyewear’s revenue was up by a “solid” 2% to €476 million (£407 million).
Kering Beauté was up by 6% to €71 million (£60 million), with thanks to Creed and its new fragrance.

François-Henri Pinault, Chairman and CEO, said: “As we had anticipated, Kering faced a difficult start to the year. In this environment, we are fully focused on executing on our action plans to reach our strategic and financial objectives and strengthen the positioning of our Houses on all our markets.

“We are increasing our vigilance to weather the macroeconomic headwinds our industry faces, and I am convinced that we will come out stronger from the present situation.”

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}

_{Aggregated From –}

_{Source link}