Overview
- Kering reported 2025 revenue down 13% to €14.67 billion and recurring operating income down 33%, reducing the group margin to 11.1%.
- Fourth‑quarter revenue came in at €3.9 billion, down 3% on a comparable basis and better than forecasts, sending the stock up by double digits.
- Gucci’s revenue fell 22% for the year and 10% like‑for‑like in Q4, marking a tenth straight quarterly decline, with management citing late‑year improvement across most regions.
- The group cut its retail footprint by 75 boutiques in 2025 and plans about 100 additional net closures this year, while net debt fell to around €8 billion as free cash from operations (ex‑property) declined 35% to €2.3 billion.
- Kering agreed to sell Kering Beauté to L’Oréal with closing targeted in the first half of 2026 and the board will propose a €3 ordinary dividend plus a €1 exceptional payout linked to the deal.