Kering Reports Flat Revenue Growth in First Half of 2026 Amid Decline at Gucci
Luxury group Kering reported first-half revenue growth of 1% to €7.22 billion, with jewellery and eyewear divisions offsetting a decline from its flagship brand, Gucci. While second-quarter revenue rose by 1%, the fashion and leather goods segment saw flat performance in Q2 and declined overall for H1 due largely to weaker sales at Gucci. Gucci's first-half revenue fell by 9% on a reported basis and 5% comparable, despite some improvement toward the end of the quarter. In contrast, jewellery revenue rose sharply by 18%, while eyewear grew by 8%. The company also reduced its directly operated store count by 84 in H1 and plans to close another 25 stores this year. Kering CEO Luca de Meo emphasized that strategic measures taken over the past period are beginning to show results, with a focus on brand distinctiveness and operational efficiency. Despite ongoing market challenges, Kering remains committed to sustainable growth and margin improvement.
Topics: operating income retail sales revenue store closures