In the first quarter of 2025, the Kering group’s group turnover was EUR 3.9 billion, which corresponds to a decline of 14%. The turnover of the D2C business fell by 16%, especially in the region of Asia-Pacific, the group had to accept loss of -25%. Sales decreased by 13%in both Western Europe and North America, and 11%in Japan. As a result, the group closed 25 branches. A total of 1,788 locations are operated today. In the wholesale area, sales decreased by 9%.
The turn of the Gucci brand was 1.6 billion euros in the first quarter. This corresponds to a minus by 24% compared to the previous year. The D2C business also shrank by 25%, while the Wholesale business even dropped by 33%. The Yves Saint Laurent brand had a minus by 8%. Bottega Veneta, on the other hand, achieved an increase of 4%with sales of 405 million euros. Which is primarily due to the growing D2C business (+7%).
“As we expected, Kering had to accept a difficult start to the year,” says CEO François-Henri Pinault. “In this environment, we concentrate fully on the implementation of our action plans to achieve our strategic and financial goals and to strengthen the positioning of our houses in all of our markets. We increase our vigilance, in order to survive the macroeconomic headwind, with which our industry is confronted, and I am convinced that we are stronger from the current situation.”
