Learn languages naturally with fresh, real content!

tap to translate recording

Explore By Region

flag Kering's sales dropped 9% in Q4, with Gucci's 10th straight decline, but the company plans a turnaround via cost cuts, store closures, and selling its beauty brand to L’Oréal.

flag Kering reported a 9% drop in fourth-quarter sales to 3.9 billion euros, slightly better than expected, with Gucci sales down 10%—its 10th straight quarterly decline—though the decline eased from prior quarters. flag The company, under new CEO Luca de Meo, is implementing a turnaround plan including cost cuts, store reductions, and selling its beauty business to L’Oréal for 4 billion euros. flag Despite a net loss of 29 million euros from continuing operations, adjusted net income fell to 532 million euros. flag Kering aims to return to growth in 2026, with a detailed roadmap to be unveiled April 16, as luxury demand remains weak amid inflation, geopolitical tensions, and slowing U.S. and Chinese markets.

13 Articles