Gucci Sales Decline for Sixth Consecutive Quarter, 18 Global Stores Closed in First Half | Luxury Circle

August 1, Kering Group recently released its 2025 first-half financial report. The group's revenue decreased by 16% to €75.87 billion, with recurring operating profit of €9.69 billion, a decline of 38.7%. Net profit was €4.74 billion, down 46%.

According to Kering Group's publicly disclosed first-half financial report, the core brand Gucci has experienced a sharp decline. Gucci's revenue in the first half of 2025 decreased by 26% to €30 billion, with second-quarter revenue down 25% to €14.6 billion.

According to media statistics, Gucci's "underperformance" has persisted for six consecutive quarters, with a decline in comparable sales from the first quarter of 2024 to the second quarter of this year, amounting to 21%, 20%, 25%, 24%, 25%, and 25%.

Excluding Gucci, other Kering Group brands have also underperformed. Yves Saint Laurent (YSL) reported a revenue decline of 11% to €13 billion in the first half of 2025, with second-quarter sales down 10%.

The only bright spot was Bottega Veneta, which achieved growth in the first half of 2025, with revenue up 1% to €8.46 billion. Kering Eyewear and cosmetics also reported a revenue increase of 2%, reaching €10.92 billion.

Kering Group Chairman and CEO François-Henri Pinault attributed the underperformance to the group's failure to meet its potential, stating that the company is taking steps to strengthen its financial structure by optimizing distribution channels and reducing costs.

In addition, 24 stores were closed globally in the first half of this year, with Gucci accounting for 18 closures. YSL closed one store, while Bottega Veneta closed five. As of June 30, Kering Group had a total of 1,789 stores worldwide.

Responsible editor: Jiang Yuhan