Kering ended the year with a 13% decline in revenue to €14.7 billion. CEO Luca de Meo, who has been at the helm since September 2025 to turn the tide, says the results do not reflect the company’s true potential. The company aims to return to growth and improve margins in 2026.
Gucci slips further
The French luxury company saw retail sales decline by 11% and wholesale revenues fall by 9%. The problems are still mainly concentrated at flagship Gucci, where sales fell by 22% to €6 billion. Direct sales to consumers accounted for 92% of revenues, while wholesale sales declined by 14%.
