Overview

• Kering's first-quarter 2025 revenue fell 14% year-on-year to €3.88 billion, exceeding analyst expectations of a 9.7% decline.
• Gucci, which accounts for half of Kering's revenue, reported a 25% sales drop, further straining the group's overall performance.
• The company has closed 25 underperforming stores this year as part of efforts to streamline operations and cut costs.
• Newly appointed creative director Demna, set to officially start in July 2025, is tasked with revitalizing Gucci's brand and sales trajectory.
• Regional sales declines were led by a 25% drop in Asia-Pacific, with Western Europe and North America down 13% and Japan down 11%.