Key Facts
• Gucci’s Q2 2025 revenue dropped 25% year-on-year, matching analyst forecasts.
• Parent company Kering’s overall revenue fell 15% in the same period.
• Gucci’s slowdown reflects broader luxury market deceleration, impacting Kering’s performance.
• Demna Gvasalia, former Balenciaga designer, became Gucci’s Artistic Director in July 2025.
• Gvasalia’s debut collection for Gucci is set for March 2026 at Milan Fashion Week.
• Kering’s CEO transition: Luca de Meo to assume role in mid-September 2025.
• Kering’s H1 2025 operating profit declined 39% to €969 million, slightly above forecasts.
• Kering shares rose 25% since de Meo’s appointment announcement but remain 11% down year-to-date.
• CFO Armel Plourde stated the company can manage the U.S. 15% tariff on EU imports.
• Deputy CEO Francesca Bellettini hinted at a September 2025 presentation unveiling Gvasalia’s vision.
Summary
Gucci, Kering’s flagship luxury brand, reported a 25% revenue drop in Q2 2025, reflecting a broader slowdown in the luxury market. This decline has significantly impacted Kering, whose overall revenue fell 15% during the same period. To address these challenges, Kering appointed Demna Gvasalia as Gucci’s new Artistic Director in July 2025, with his debut collection scheduled for March 2026. Additionally, Luca de Meo will take over as Kering’s CEO in September 2025, signaling a leadership shift aimed at revitalizing the company. Despite a 39% drop in H1 2025 operating profit, Kering’s performance slightly exceeded analyst expectations. The company remains optimistic about managing U.S. tariffs on EU imports and anticipates unveiling Gvasalia’s vision in September 2025. Kering’s stock has risen 25% since de Meo’s appointment announcement, though it remains 11% lower year-to-date.
