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]

Core Viewpoint - The European Commission has fined luxury fashion brands Gucci, Chloé, and Loewe a total of €157 million ($181.52 million) for engaging in resale price maintenance practices that violate EU competition law [1]. Group 1: Violations and Practices - The brands limited independent retailers' freedom to set their own prices for goods sold under their labels, affecting apparel, leather goods, footwear, and accessories across the European Economic Area (EEA) [2]. - Pricing conditions imposed by the companies included restrictions on deviating from recommended retail prices, setting maximum discount levels, and altering designated sales periods [2][3]. - In some instances, retailers were completely barred from offering discounts, and compliance was monitored to ensure uniform pricing across sales channels [2]. Group 2: Investigation and Fines - The violations occurred over different time frames: Gucci from April 2015 to April 2023, Chloé from December 2019 to April 2023, and Loewe from December 2015 to April 2023 [3]. - The unlawful practices ceased following unannounced inspections by the commission in April 2023, leading to the calculation of fines based on the seriousness, duration, and geographical reach of the infringements [4]. - The fines were reduced for cooperation during the investigation: Gucci and Loewe received a 50% reduction, while Chloé received a 15% reduction, resulting in fines of €119.67 million for Gucci, €19.69 million for Chloé, and €18.01 million for Loewe [4]. Group 3: Legal Framework and Impact - The actions of the companies were found to restrict retailers' pricing independence, limit competition, and reduce consumer choice, breaching Article 101 of the Treaty on the Functioning of the European Union (TFEU) and Article 53 of the EEA Agreement [5]. - The investigation began with unannounced inspections in April 2023, followed by formal proceedings opened in July 2024 [6].

Investor Day 2025 This presentation contains certain "forward-looking statements" based on management's current expectations. Forward-looking statements include, but are not limited to, the statements under "Financial Outlook," statements regarding long-term performance, statements regarding long-term brand growth ambitions beyond fiscal year 2028, statements regarding the Company's capital deployment plans, including anticipated annual dividend rates and share repurchase plans, and statements that can be i ...

Brand Portfolio and Revenue - Lanvin Group manages a diverse portfolio of 5 iconic luxury heritage brands[10, 21] - In 2024, Lanvin's revenue was €83 million, representing 25% of the group's revenue[16] - Wolford's 2024 revenue was €88 million, accounting for 27% of the group's revenue[17] - Sergio Rossi's 2024 revenue was €42 million, which is 13% of the group's revenue[16] - St John's 2024 revenue reached €79 million, making up 24% of the group's revenue[19] - Caruso generated €37 million in revenue in 2024, contributing 11% to the group's revenue[16] Financial Performance and Challenges - The group's global revenue for FY 2024 was €329 million, a 23% decrease compared to FY 2023[80] - The group's Adjusted EBITDA in 2024 was -€92320 thousand, representing -28% of revenue[87, 132] - The group is implementing measures to reduce G&A expenses and improve working capital management[80] Strategic Initiatives - The group is focused on streamlining expenses and enhancing operational efficiency[77] - The group is upgrading its store network with disciplined new openings and a strategic focus on key markets[97] - The group is aiming to reduce discounts and sharpen product offerings to focus on core and less seasonal categories[95]