Kering Eyewear Posts Growth Despite Group-Wide Decline in 2025 Results

French luxury conglomerate Kering has reported its annual results for the 2025 financial year, with its eyewear division emerging as a bright spot amid broader challenges for the group.

Kering Eyewear delivered a 3% increase in revenue on a like-for-like basis, reaching €1.6 billion for the year. The performance reinforces the division's position as a consistent growth driver for the luxury group, even as consolidated group revenue fell 13% to €14.7 billion.

The eyewear segment's resilience stands in contrast to the overall picture at Kering, which saw current operating income decline 33% to €1.6 billion and net income fall to €532 million. The group attributed the challenging year to difficult market conditions across the luxury sector.

However, Kering's management pointed to signs of improvement in the fourth quarter, when the group's revenue decline moderated to just 3%, suggesting a potential turning point as the company enters 2026 under new leadership.

Performance across Kering's fashion houses varied considerably. Flagship brand Gucci saw revenue decline 19% to €6 billion, though the launch of its La Famiglia collection and new product introductions helped revive interest late in the year. Yves Saint Laurent recorded €2.6 billion in revenue, down 6% on a comparable basis, while Bottega Veneta bucked the trend with 3% growth, reaching record sales levels.

The year also brought significant strategic developments for the group. Luca de Meo was appointed CEO in September 2025, tasked with steering Kering's return to growth. In a major transaction, the group entered a partnership with L'Oréal for the sale of Kering Beauté in a deal valued at €4 billion, expected to close in the first half of 2026.

Kering also strengthened its balance sheet, reducing net debt by €2.5 billion to €8 billion as of 31 December 2025, while optimising its real estate holdings in key markets including Paris and New York.

The company expressed confidence that with its new leadership and strategic initiatives in place, it is positioning for a return to growth in 2026.