The 5 percent decline in comparable revenue in the third quarter represents a strong sequential improvement (-15 percent in the second quarter of 2025), of which approximately half is due to the performance of Kering Houses beyond the favorable comparison base.
Kering's third-quarter revenue fell 10% to €3.4 billion (~$3.94 billion), with a comparable decline of 5 percent but showing sequential improvement over the second quarter. Gucci's revenue fell 18 percent to €1.3 billion (~$1.51 billion), driven by weaker wholesale and retail sales despite the success of new products. CEO Luca de Meo emphasized ongoing recovery efforts to restore market growth and prominence.
By channel, in Q3 2025, directly operated retail network sales fell 6 percent on a comparable basis, with all regions contributing to the sequential improvement (-16 percent in Q2 2025). Wholesale and other revenues decreased 2 percent on a comparable basis. In the first nine months of the year, the group generated revenues of €11 billion (~$12.76 billion), 14% less than reported and 12% less on a comparable basis.
In the third quarter of 2025, Gucci's revenue amounted to 1.3 billion euros ($1.51 billion), down 18 percent as reported and down 14 percent on a comparable basis, the company said in a news release.
Sales of the directly operated retail network decreased by 13 percent like-for-like. This strong sequential improvement compared to the second quarter was primarily due to increased momentum in North America and Western Europe, along with the success of new products, particularly leather goods. Wholesale revenue fell 25 percent on a comparable basis.
Towards the end of the quarter, Gucci presented its La Famiglia collection, which confirmed the House's return to the forefront of fashion.
“Kering's third quarter performance, while representing a clear sequential improvement, remains well below the market. This reinforces my determination to work across all dimensions of the business to return our Houses and the group to the prominence they deserve. We are working tirelessly on our recovery, as demonstrated by our recent decisions,” he said. Luca de Meo, general director.
Fiber2Fashion (RR) News Desk
