Kering Reports 2024 Sales Decline as Gucci Faces Leadership Shakeup

The luxury group sees a 12% drop in annual revenue, with Gucci sales plunging 24% in Q4, while efforts to revive its flagship brand continue.

Kering's revenue fell 12% in 2024 to €17.2 billion, with net profit plunging 62% to €1.13 billion, reflecting challenges across its portfolio.
Gucci, the company's largest brand, saw a 24% drop in Q4 sales and a 23% decline for the year, significantly impacting Kering's overall performance.
The departure of Gucci's creative director, Sabato De Sarno, after less than two years, highlights ongoing struggles to reinvigorate the brand's appeal.
Kering CEO François-Henri Pinault expressed optimism about stabilizing performance in 2025, with plans to announce a new Gucci creative director soon.
While Bottega Veneta showed growth with a 15% Q4 sales increase, other brands like Saint Laurent and Balenciaga reported declines, mirroring broader luxury sector challenges.