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Despite Demna, Gucci follows a downward route (and falls 6% in revenue)

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 22/10/2026, 19:56:24 UTC.

Briefings

Kering reported a 2% revenue decline in the third quarter of 2026, driven primarily by a 6% drop in Gucci sales to 1.291 billion euros. While jewelry revenue grew 12% to 239 million euros, fashion and leather goods fell 1% to 2.743 billion euros. Luca de Meo emphasized restoring Gucci's value as a priority, while CEO Romain Spietzer noted the group aims to double recurring operating margins by the decade's end.

Key points

• Gucci sales fell 6% to 1.291 billion euros in the third quarter of 2026, marking the longest consecutive year of decline for the brand.
• Kering Jewelry revenue increased 12% to 239 million euros in the same period, offsetting fashion and leather goods declines.

Context

Kering's third-quarter results for 2026 show a 2% overall revenue drop, with fashion and leather goods accounting for 2.743 billion euros in sales. The group's strategy focuses on restoring Gucci's market position while managing store closures and expanding product lines.

Limitations

Data covers only the third quarter of 2026 and the first nine months of the year. CEO Armelle Poulou's confirmation of 2026 growth targets remains unconfirmed, and future store closures and new creative directors are not yet finalized.

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