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FASHION By the VARIETY Numbers
The Freeman
|September 30, 2025
French luxury group Kering reported a 46% plunge in net profit during the first half of the year, with sales slumping again at its flagship Gucci brand, as the group awaits a new CEO to try to regain its footing.
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Group net profit fell to $547 million in the first half on sales that were down 16 percent. Kering announced in June that it had poached Luca de Meo, then the head of French automaker Renault, to become chief executive and help turn around the company alongside Francois-Henri Pinault, who will remain board chairman.
Pinault's family controls the holding company that is the largest shareholder in Kering, whose crosstown rival LVMH reported a 22 percent drop in first-half profit.
This story is from the September 30, 2025 edition of The Freeman.
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