French luxury brand Kering SA (KER.PA) reported results for the first half of 2025 on Tuesday, with profit dropping from a year ago and revenues down 16%.
Net income attributable to the Group was €474 million or €3.86 per share in the first half of 2025, compared to €878 million or €7.16 per share last year.
Kering's revenue in the first half of 2025 was €7.59 billion, down 16% from €9.02 billion. Revenues were down 15% on a comparable basis.
Revenue in the second quarter of 2025 was €3.7 billion, down 18% as reported and down 15% on a comparable basis. The change in revenue as reported includes a negative currency effect of 3%.
"The first half of 2025 has been a period of momentous decisions for Kering. On the governance front, I recommended to the Board of Directors, which has agreed, that we entrust the role of Kering CEO to Luca de Meo, while I will retain the chairmanship. On the creative front, reinforced teams, headed by new designers at three of our largest houses, are hard at work, with passion and determination, intensifying the desirability and drawing on the heritage of all our brands. On the operational and financial fronts, in a particularly tough market environment, we continued to streamline our distribution and cost base, and, executing on our roadmap, we took decisive steps to strengthen our financial structure. Though the numbers we are reporting remain well below our potential, we are certain that our comprehensive efforts of the past two years have set healthy foundations for the next stages in Kering's development." said François-Henri Pinault, Chairman & Chief Executive Officer.
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