French luxury group Kering saw not only its revenue but also its net profit plummet in the first half of 2025, following weak performance from its flagship brand Gucci. The company is preparing for a leadership change, hoping to turn the tide.
Gucci sinks deeply
The net profit of the luxury group amounted to 474 million euros, compared to 878 million euros in the same period a year ago. This is a decline of 46%. The total group revenue fell by 16% to 7.6 billion euros. Gucci, accounting for nearly half of Kering’s revenue, saw sales drop by 26% to 3.03 billion euros. The operating profit of the Italian fashion house plummeted by 52% to 486 million euros.
