The French luxurious model home, which additionally owns Saint Laurent and Bottega Veneta, stated gross sales fell to €17.2bn (£14.3bn) within the 12 months to 31 December 2024, and income additionally dropped throughout key manufacturers. EBITDA for the group was down 29% to €4.6bn (£3.8bn).
Reported gross sales for the group’s flagship model, Gucci, have been down 23% 12 months on 12 months to €7.65bn (£6.37bn) and recurring working earnings (working revenue) was down 51% to €1.6bn (£1.34bn).
Yves Saint Laurent gross sales have been down 9% to €2.9bn (£2.4bn) in 2024, and recurring working earnings plummeted 39% to €593m (£494m).
Bottega Veneta reported a rise in income of 4% to €1.7bn (£1.42bn), however recurring working earnings was down 18% to €255m (£212m).
The group additionally reported its gross sales fell 12% in its fourth quarter (1 October to 31 December 2024) on a comparable foundation from a 12 months earlier, with a 24% drop at Gucci.
Gucci introduced it had parted methods with inventive director Sabato De Sarno after two years on 6 February.
Kering chairman and CEO François-Henri Pinault stated in an announcement that throughout the group – and at Gucci in the beginning – Kering had made crucial selections, together with bettering distribution, making key hirings and bettering effectivity of operations.
“In a tough 12 months, we accelerated the transformation of a number of of our homes and moved determinedly to strengthen the well being and desirability of our manufacturers for the long run,” stated Pinault.
“We’re assured that we have now pushed Kering to a degree of stabilisation, from which we are going to steadily resume our progress trajectory.”
