Kering, the parent company of Gucci, posted third-quarter 2025 results showing a 5 % year-on-year decline in comparable sales to roughly €3.42 billion, beating analysts’ expectation of an 8.8 % drop. While Gucci’s sales still fell by 14 % to about €1.34 billion, this marked notable improvement from earlier quarters where declines reached 25 %. The positive surprise was powered by stronger performance at smaller houses like Bottega Veneta and Yves Saint Laurent, as well as geographies such as North America showing resilience.

Under new CEO Luca de Meo, Kering is executing a turnaround strategy: boosting product relevance, reducing debt, optimizing brand portfolio and realigning China-market growth. Investors responded favourably, signalling renewed hope for the luxury sector. However, Kering still trails well-known peers and remains reliant on Gucci for profitability. The broader luxury environment especially discretionary spend in China and the U.S. will continue to be a key watchpoint. The results offer a glimmer of optimism but underscore that the path to full revival remains challenging.