The financial difficulties of the
luxury group Kering continue, closing the first quarter of 2025
with revenues of 3.883 billion, down 14% compared to the same
period in 2024.
The result is lower than expected, with the Bloomberg consensus
estimating revenues of 4.09 billion.
The performance of the group continues to be weighed down by the
performance of the Gucci brand, which recorded revenues of 1.571
billion, down 25% on a comparable basis and recorded strong
declines in direct retail (-25%) and wholesale (-33%).
For the brand, the consensus was 1.62 billion (-23.26%).
The quarter saw the appointment of Georgian designer Demna
Gvasalia as the new artistic director.
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