Core Insights - Kering reported a 10% decline in Q3 2025 revenue to €3.4 billion ($3.94 billion), with a 5% decrease on a comparable basis [1] - For the first nine months of 2025, total revenue was €11 billion, down 14% as reported and 12% on a comparable basis [1] - The performance of Kering's brands varied, with Gucci experiencing a significant decline while some other brands showed resilience [2][3][4] Group Performance - Gucci's revenue fell to €1.3 billion, an 18% drop on a reported basis and 14% on a comparable basis, with direct store sales down 13% and wholesale revenue down 25% [2] - Yves Saint Laurent generated €620 million, down 7% as reported and 4% on a comparable basis [2] - Bottega Veneta posted revenue of €393 million, a 1% decline as reported but a 3% increase on a comparable basis, with retail sales growing by 5% [3] - Other houses recorded €652 million in revenue, down 5% as reported but up 1% on a comparable basis, with stable retail sales and a 5% increase in wholesale revenue [4] Segment Performance - Kering Eyewear and corporate revenue totaled €448 million, an increase of 2% on a reported basis and 6% on a comparable basis, with Kering Eyewear's revenue rising 7% [5] - Kering Beauté recorded a 3% increase in revenue on a comparable basis, driven by new fragrance launches [6] - CEO Luca de Meo noted that while there was a sequential improvement in performance, it remains below market levels [6]