Overview
- Kering posted €14.6 billion in 2025 revenue, a 10% drop that marks a third consecutive annual decline in sales and profits.
- Analysts had forecast a steeper 13.8% fall to about €14.8 billion, and management has cautioned that early effects from changes will take time to show.
- Gucci remains under pressure after a 27% sales slide from 2022 to 2024 and still accounts for 44% of third‑quarter sales and two‑thirds of operating profit.
- Kering has moved to cut debt by selling its beauty division to L'Oréal for €4 billion and offloading property including its Fifth Avenue building to Ardian for €766 million.
- Leadership and portfolio moves include Francesca Bellettini taking charge at Gucci, Demna’s arrival in creative leadership, Bottega Veneta CEO Bartolomeo Rongone leaving on March 31 for Moncler, and a strategic review at Alexander McQueen that may involve job cuts.