The 5 percent decline in comparable revenues in the third quarter represents a sharp sequential improvement (-15 percent in the second quarter of 2025), about half of which is due to Kering House’s performance beyond a favorable base of comparison.
Kering’s Q3 revenue fell 10% to €3.4 billion (~$3.94 billion), a comparable decline of 5 percent but showing a sequential improvement from Q2. Despite the success of the new product, Gucci’s revenue fell 18 percent to €1.3 billion (~$1.51 billion) due to weak wholesale and retail sales. CEO Luca De Meo emphasized ongoing turnaround efforts to restore growth and market prominence.
According to Channel, in Q3 2025, sales from directly operated retail networks fell 6 percent on a comparable basis, with all regions contributing to a sequential improvement (-16 percent in Q2 2025). Wholesale and other revenues were down 2 percent on a comparative basis. In the first nine months of the year, the group generated revenues of €11.0 billion (~$12.76 billion), down 14 percent as reported and down 12 percent on a comparable basis.
In the third quarter of 2025, Gucci’s revenue was €1.3 billion ($1.51 billion), down 18 percent as reported and 14 percent on a comparable basis, the company said in a press release.
Sales from directly operated retail networks were comparatively down 13 percent. This sharp sequential improvement compared to the second quarter was driven by strong momentum, particularly in North America and Western Europe, as well as the success of new products, particularly leather goods. Wholesale revenue was down 25 percent on a comparative basis.
At the end of the quarter, Gucci presented its La Famiglia collection, which confirmed the House’s return to the field of fashion.
“Kering’s third quarter performance, while representing a clear sequential improvement, is well below the market. This reinforces my determination to work across all dimensions of the business to return our Houses and Group to the prominence they deserve. We are continuing to work on our transformation, as demonstrated by our recent decisions,” he said. Luca De Meo, CEO,
Fibre2Fashion News Desk (RR)
