Overview

• Kering's Q1 2025 revenue declined 14% year-on-year to €3.88 billion, missing analyst expectations for a smaller drop.
• Gucci, which accounted for 63% of Kering's operating profit in 2024, saw sales fall by 25%, continuing its downward trajectory.
• Other Kering brands showed mixed performance, with Bottega Veneta growing 4% and Kering Eyewear up 3%, while Saint Laurent and 'other houses' declined by 9% and 11%, respectively.
• The company closed 25 stores in 2025 to streamline operations and reduce underperforming locations, citing weak demand in key markets like Asia-Pacific, Western Europe, and North America.
• Kering prepares for a creative transition at Gucci with the appointment of Demna as creative director in July, aiming to reinvigorate the struggling flagship brand.