economy
February 10, 2026
Gucci-owner Kering jumps 12% as new CEO maps revival, sales beats estimates
The luxury group said it sees a return to growth this year even as it posted another quarter of sales declines.
TL;DR
- Kering expects a return to growth in the current year, despite a recent quarter of sales declines.
- Gucci, Kering's largest brand, experienced a 10% sales drop in the fourth quarter.
- CEO Luca de Meo is leading a turnaround effort, including deleveraging the balance sheet and selling the beauty segment.
- Kering plans to enter the wellness and longevity market and will unveil its jewelry strategy in April.
- The company's shares rose significantly following the announcement, and the positive sentiment impacted other luxury stocks.
- Kering aims to reignite desirability and prepare for the next growth cycle, focusing on core fashion businesses.
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