Chinese demand for Gucci is weakening, seriously affecting the results of its parent company, Kering. With revenues down 25% in the third quarter, Gucci is struggling to turn things around and its underperformance is weighing heavily on the Kering group, which also owns Yves Saint Laurent, Balenciaga and Bottega Veneta.
As a result, Kering's annual profits could reach their lowest level since 2016. Despite the arrival of a new designer at Gucci 18 months ago, the future remains uncertain, especially as the economic situation in China, a crucial market for luxury goods, continues to deteriorate.
A global Luxury group, Kering manages the development of a series of renowned Houses in Fashion, Leather Goods, and Jewelry: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, McQueen, Brioni, Boucheron, Pomellato, Dodo, Qeelin, Ginori 1735, as well as Kering Eyewear and Kering Beauté.
By placing creativity at the heart of its strategy, Kering enables its Houses to set new limits in terms of their creative expression while crafting tomorrow's Luxury in a sustainable and responsible way. It captures these beliefs in its signature: Empowering Imagination.
In 2025, Kering had 43,731 employees and restated revenue of EUR 14.7 billion.
At the end of 2025, the Group had a network of 1,719 stores under its own management, located primarily in Western Europe (361), Japan (225), Asia-Pacific (666) and North America (308).
Net sales are distributed geographically as follows: France (5.6%), Western Europe (24.5%), Japan (7.9%), Asia/Pacific (28.6%), North America (24.2%) and other (9.2%).
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