Overview

• Q2 revenue declined 15% to €3.7 billion as Gucci sales plunged 25%, missing market forecasts.
• First-half net profit tumbled 46% to €474 million as brand sales pressures persisted.
• Saint Laurent sales dropped 10% while Bottega Veneta edged up 1%, highlighting portfolio disparities.
• Net debt was reduced to €9.5 billion over the first half, largely through real estate disposals.
• Kering flagged manageable new 15% US tariffs, announced plans to close up to 80 net stores by year-end and awaits Luca de Meo’s September leadership takeover.