Kering sales flat as Gucci revenue falls 4%

Kering reported flat third-quarter sales on Thursday as revenue at its key Gucci brand fell 4% in a softer luxury market.

The French luxury group said sales were 3.34 billion euros, or $3.75 billion, in the three months to the end of September, stable from the same period last year. Excluding exchange rate fluctuations and changes to the business, sales fell 1%.

Gucci sales declined 4% to 1.29 billion euros. Kering said the comparison was affected by a more challenging base last year for its flagship brand.

Gucci remains central to Kering's performance but has struggled since 2023. The brand generated more than half of Kering's revenue in the past, but that share fell to 40% in 2025.

Kering, which also owns Yves Saint Laurent and Bottega Veneta, announced a strategy in April aimed at restoring Gucci's exclusivity.

“The recovery of Gucci remains our defining priority,” chief executive Luca de Meo said. He said the quarter reflected “a softer macroeconomic environment.”

Kering said retail sales in its fashion and leather goods division excluding Gucci rose 2%, driven by growth at Saint Laurent, Bottega Veneta and Brioni.