Kering swings from profit to loss last year as revenue declines across its three major brands

(Paris, 11th) French luxury group Kering swung to a net loss of €29 million last year, compared with a €1.025 billion net profit in 2024. Revenue fell 13.03% year-on-year to €14.675 billion.

Profitability weakened sharply: gross profit dropped 55.89% to €532 million, while operating profit declined 19.16% to €3.675 billion.

By brand, Gucci’s revenue slid 21.67% to €5.992 billion. Bottega Veneta edged down 0.4% to €1.706 billion, while Yves Saint Laurent fell 8.26% to €2.643 billion. Kering said it expects a return to growth this year and improvements in gross margin.