Morningstar

Kering's Sales Lose Steam in Struggling Luxury Market

Provided by Dow Jones Oct 22, 2026, 4:30:00 PM

By Andrea Figueras

Parisian group Kering said sales were hit by a challenging luxury market in the most recent quarter.

The owner of Gucci, Bottega Veneta and other high-end labels booked a 1% decrease in revenue on a comparable scope and exchange rate basis for the third quarter. Revenue was 3.345 billion euros ($3.76 billion), broadly in line with consensus estimates.

Sales at the group's main fashion and leather goods business fell 3%, with those at the flagship Gucci brand declining 6%.

The luxury market has seen a sharp drop in demand, in particular among so-called aspirational consumers as well as Chinese buyers, and Kering has been one of the worst affected companies.

Kering is working to boost its brands by revamping some management and creative teams.

Write to Andrea Figueras at andrea.figueras@wsj.com

(END) Dow Jones Newswires

October 22, 2026 12:30 ET (16:30 GMT)

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