Kering SA Reports Significant Q1 Revenue Decline

In a revealing first quarter of fiscal year 2025, Kering SA, the luxury brand conglomerate, announced a 14% annual revenue decline, totaling €3.88 billion. This downturn reflects broader challenges in the luxury market, with retail sales, including e-commerce, dropping by 16% year-over-year.

Regional Performance Highlights

The Asia-Pacific region experienced the most severe demand contraction at 25%, followed by Western Europe and North America, both seeing a 13% decrease. Despite these setbacks, Kering Eyewear & Corporate and Bottega Veneta emerged as outliers, with their businesses growing by 3% and 4%, respectively.

Leadership's Forward-Looking Statement

"In this environment, we are fully focused on executing our action plans to achieve our strategic and financial objectives and reinforce our brands' positioning across all markets. We're enhancing our vigilance to navigate the macroeconomic challenges our industry faces, and I'm confident we'll emerge stronger," stated CEO Francois-Henri Pinault.