Kering Group Reports Q3 2026 Financial Results Amid Designer Leadership Changes

Key summary

Kering Group, owner of luxury brands including Gucci, Saint Laurent, Bottega Veneta, and Balenciaga, reported third-quarter 2026 revenue of 3.345 billion euros (approximately 126 billion baht) and nine-month total revenue of 10.565 billion euros. While reported figures remained stable year-on-year, revenue excluding exchange rate impacts and other factors declined by 1%. Gucci contributed significantly to the group's performance with Q3 revenue of 1.291 billion euros, down 6% on comparable metrics and 4% in reported terms; store sales fell 9%, particularly in Asia-Pacific due to reduced foot traffic in mainland China and Japan, though conversion rates and average spend improved. Excluding Gucci, Fashion & Leather Goods retail sales rose 2% supported by Saint Laurent, Bottega Veneta, and Brioni, with total segment revenue at 2.743 billion euros (down 3% comparable). Kering Jewelry revenue reached 239 million euros (+11% comparable), driven by Boucheron and Pomellato, while Kering Eyewear generated 373 million euros (+4%). The group plans to focus on restoring Gucci demand, product quality improvements, and China operations, aiming to increase operating margins in 2026. Notably, Anthony Vaccarello and Seán McGirr are set to leave their creative director roles at Saint Laurent and Alexander McQueen respectively in October, with Pierpaolo Piccioli potentially departing Balenciaga's creative direction, though Martine Rose is mentioned as a potential successor.