Kering: Press release - 2025 Third-quarter revenue

Core Insights - Kering's third-quarter revenue for 2025 was €3,415 million, reflecting a 10% decline as reported and a 5% decrease on a comparable basis [2][3][28] - The company is focused on a turnaround strategy to enhance the performance of its brands and regain market prominence [2][3] Revenue Performance - The third-quarter revenue decline of 5% on a comparable basis shows a significant improvement from a 15% drop in the second quarter of 2025 [3] - For the first nine months of 2025, Kering generated revenue of €11.0 billion, down 14% as reported and down 12% on a comparable basis [3][28] Brand-Specific Performance - Gucci: Revenue was €1,343 million, down 18% as reported and down 14% on a comparable basis. Retail sales decreased by 13% on a comparable basis, but there was improved momentum in North America and Western Europe [4][5] - Yves Saint Laurent: Revenue reached €620 million, down 7% as reported and down 4% on a comparable basis. The brand saw a return to growth in North America and a slight decline in Western Europe [7] - Bottega Veneta: Revenue totaled €393 million, down 1% as reported but up 3% on a comparable basis, with strong growth in the retail network driven by North America [8] - Other Houses: Revenue was €652 million, down 5% as reported but up 1% on a comparable basis, with stable retail sales and improved wholesale revenue [10] Segment Performance - Kering Eyewear and Corporate: Revenue was €448 million, up 2% as reported and up 6% on a comparable basis, with solid growth across key regions [12][13] - Jewelry Houses: Experienced double-digit revenue growth, particularly in the U.S. and Asia-Pacific markets [11] Strategic Developments - Kering and L'Oréal announced a strategic partnership in luxury beauty and wellness, valued at €4 billion, expected to close in the first half of 2026 [20] - Luca de Meo officially began his role as CEO on September 15, 2025, with a focus on enhancing the company's performance [17]