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Kering's shares rose 5% after better-than-expected revenue, driven by YSL and Bottega Veneta, despite Gucci’s 14% sales drop under new CEO Luca de Meo.
Kering's shares rose 5% in early Paris trading after reporting third-quarter revenue of €3.42 billion, a 5% decline year-on-year—better than the 9.6% drop analysts expected—driven by stronger performance from Yves Saint Laurent and Bottega Veneta, which offset a 14% sales drop at Gucci, its flagship brand.
The results mark the first full reporting period under new CEO Luca de Meo, who has launched a turnaround strategy focused on restructuring, debt reduction, and revitalizing Gucci with a new creative direction led by Demna.
A $4.7 billion deal to sell its beauty business to L’Oréal, with licensing rights retained, signals a strategic shift, while Kering’s eyewear division remains central to its long-term plans.
Shares have surged 85% since de Meo’s appointment, reflecting investor optimism despite ongoing challenges at Gucci.
Las acciones de Kering subieron un 5% después de ingresos mejores de lo esperado, impulsados por YSL y Bottega Veneta, a pesar de la caída del 14% en las ventas de Gucci bajo el nuevo CEO Luca de Meo.