Kering returns to growth as Gucci decline eases in H1

本条来自 Luxury Daily（Luxury / 资讯），聚焦 Kering、Gucci、奢侈品、业绩复苏。 The Horsebit Ristretto medium shoulder bag. Image courtesy of Gucci French luxury conglomerate Kering is offering investors the first tangible evidence that its turnaround is taking hold. In the second quarter of 2026, the group generated revenues of 3.65 billion euros, or about $4.3 billion at current exchange, up 1 percent y-o-y on a reported basis, returning to growth. Revenue reached 7.2 billion euros, or $8.23 billion at current exchange, during the first half of 2026, down 3 percent y-o-y on a reported basis but up 1 percent comparably. “Kering delivered improved performance in the second quarter, with revenue returning to growth,” said Luca de Meo, CEO of Kering, in a statement. “Across the Group, we are seeing early signs of progress in brand desirability, commercial momentum and operating performance,” Mr. de Meo said. “The quarter also showed sequential acceleration, including at Gucci, driven by the actions taken over recent months.” Early recovery Gucci generated 1.41 billion euros, or $1.61 billion, during the second quarter, representing a 3 percent reported decline and a 2 percent comparable decrease. Sales through directly operated stores fell 2 percent comparably, improving by 7 percentage points from the first quarter. Kering attributed the shift to stronger client engagement, renewed retail momentum and the launches of the Borsetto and Paparazzo lines. For the full six-month period, Gucci revenue declined 9 percent y-o-y as reported to 2.76 billion euros, or $3.14 billion at current exchange. In the second quarter of 2026, the group generated revenues of 3.65 billion euros, or about $4.3 billion at current exchange, up 1 percent y-o-y on a reported basis. Image credit: Shutterstock Jewelry remained the group’s fastest-growing segment. Second-quarter revenue rose 15 percent as reported, supported by Boucheron, Pomellato and Qeelin. Kering Eyewear increased second-quarter revenue by 7 percent as reported y-o-y, aided by initiatives from Lindberg, Maui Jim and Valentino. “These first-half results demonstrate the positive impact of the decisive measures we have taken to reinforce the distinctiveness of our brands, simplify our organization and increase effectiveness across the Group,” Mr. de Meo said, in a statement. “We are also advancing the rollout of our Group platforms, leveraging technology to enhance efficiency, strengthen client engagement and support stronger execution across our Houses,” he said. “While the market environment remains demanding, we are focused on delivering our roadmap with discipline and consistency, creating the foundations for sustainable growth and long-term value creation.”

The French luxury conglomerate is showing signs of a turnaround under CEO Luca de Meo, posting second-quarter comparable sales growth of 2 percent