Kering SA announced on Wednesday that its revenue in the first quarter of the fiscal year 2025 observed an annual decline of 14% to land at €3.88 billion.
The luxury brand conglomerate reported a yearly drop of 16% in its retail sales, including e-commerce. The sharpest decrease in demand of 25% was seen in Asia-Pacific, followed by Western Europe and North America at 13%. Kering Eyewear & Corporate and Bottega Veneta were the only brands that saw rises in their businesses of 3% and 4%, respectively.
"In this environment, we are fully focused on executing on our action plans to reach our strategic and financial objectives and strengthen the positioning of our Houses on all our markets. We are increasing our vigilance to weather the macroeconomic headwinds our industry faces, and I am convinced that we will come out stronger from the present situation," Chief Executive Officer (CEO) Francois-Henri Pinault said.
