Kering Company Overview and Financial Performance

Kering is a French multinational conglomerate that owns a portfolio of luxury brands, including Gucci, Yves Saint Laurent, and Alexander McQueen.

The company was founded in 1963 by François Pinault as a small leather goods company called Pinault S.A. It was later renamed Kering in 2013.

Kering's luxury brands generate significant revenue, with the company's annual sales exceeding €14 billion in 2020.

The company's focus on innovation and digital transformation has enabled it to expand its reach and stay competitive in the luxury market.

In 2024, Kering reported a 12% decrease in revenue, dropping to £14.63 billion. This decline was a significant drop from the previous year.

The company's net profit also took a hit, decreasing by 62% to £0.96 billion. Operating profit followed suit, plummeting by 46% to £2.17 billion.

Here's a breakdown of Kering's revenue and profits over the past few years:

Kering's revenue and profits have been on a downward trend, but the company remains stable and profitable due to its diverse portfolio of fashion brands.

Kering's revenue decreased by 12% in 2024, reaching £14.63 billion, compared to £16.49 billion in 2023.

The company's net profit also took a hit, dropping by 62% to £0.96 billion in 2024. This decline is a significant shift from the previous year's net profit.

Kering's operating profit declined by 46% in 2024, reaching £2.17 billion, compared to £4.01 billion in 2023.

The company's Gucci brand sales decreased by 23% in 2024, reaching £6.51 billion, while Yves Saint Laurent brand sales dropped by 9% to £2.45 billion.

Bottega Veneta brand sales, however, managed to increase by 4% in 2024, reaching £1.46 billion.

Here's a summary of Kering's 2024 financial performance:

Kering's share price is highly trusted by investors due to its ownership of key fashion brands.

The average price of Kering shares over the last 5 years is a testament to this trust.

Kering's market capitalisation is over $50 billion.

The company employs around 50,000 people worldwide.

Kering's share price sometimes falls, but it tends to rise again over time.

For instance, in March 2025, the company's shares fell by 11.2% after Demna Gvasalia left his position at Balenciaga.

Kering owns a large number of world-renowned fashion brands, including Gucci, Brioni, Boucheron, Yves Saint Laurent, Girard-Perregaux, Balenciaga, Alexander McQueen, Pomellato, Ulysse Nardin, Dodo Jewelry, and Qeelin.

The group's luxury portfolio is impressive, with Bottega Veneta hitting the billion-dollar sales mark in 2012 and Yves Saint Laurent reaching the 2-billion dollar sales mark in 2019.

Kering has also made strategic acquisitions, including the eyewear brands Lindberg in 2021 and Maui Jim in 2022, and the fragrance company Creed in 2023.

Kering, the luxury group, hit the billion-dollar sales mark with Bottega Veneta in 2012. Since then, the group has been on a roll.

In 2013, PPR changed its name to Kering, marking a new era for the luxury brand. Kering Eyewear was created in 2014, generating 1.5 billion euros in revenue by 2023.

Kering acquired Lindberg in 2021 and Maui Jim in 2022, expanding its eyewear portfolio. The group's revenue was driven by Gucci's high performance from 2015 to 2022.

Related reading: 2022 Russian Debt Default

Gucci hit the 10-billion dollar sales mark in 2022, a remarkable achievement for the luxury brand. Kering divested its interests in Stella McCartney in 2018 and Christopher Kane in 2019.

The group also exited its watch division, Girard-Perregaux and Ulysse Nardin, in 2022. Since 2015, Kering has been hosting the Women in Motion program with the Cannes Festival.

In 2023, Kering's annual results declined to 19.6 billion, mainly due to Gucci's deceleration. The group acquired Creed, a fragrance company, and 30% of Valentino that same year.

Kering Beauté was launched in 2023 to manage the development of beauty products for the group's brands.

Kering owns a large portfolio of world-renowned fashion brands, including Gucci, Balenciaga, and Yves Saint Laurent.

Kering's brand portfolio is quite extensive, with brands like Brioni, Boucheron, and Pomellato also under its umbrella.

The company has made strategic acquisitions in recent years, including the purchase of the eyewear brand Lindberg in 2021 and Maui Jim in 2022.

Kering's luxury brands have achieved significant milestones, with Bottega Veneta hitting the billion-dollar sales mark in 2012 and Gucci reaching the 10-billion dollar sales mark in 2022.

The company has also divested some of its interests, including its watch division in 2022 and Stella McCartney in 2018.

Kering's CEO, François-Henri Pinault, is the son of the company's founder, François Pinault.

The company acquired the fragrance brand Creed for £2.80 billion, expanding its portfolio in the beauty industry.

Kering Beauté was launched in 2023 to manage the development of beauty products for the group's brands.

The company has a strong commitment to promoting women's contributions to cinema, hosting the Women in Motion program at the Cannes Festival since 2015.

On a similar theme: François Villeroy De Galhau

Kering's leadership underwent a significant change in June 2025 with the appointment of Luca de Meo as the new CEO.

Luca de Meo is set to take over as CEO in September 2025, marking a new era for the company.

François-Henri Pinault will remain as Chairman, ensuring continuity and stability during this transition period.

Kering needs to have a much stronger long-term growth strategy in place. To achieve this, the company should broaden its portfolio and look for acquisitions in synergistic and adjacent luxury segments where it can extend the existing equity of its portfolio brands.

In 2024, Kering reported a revenue of €17.2 billion, but it still needs to address key challenges such as meeting complex and highly ambitious sustainability targets. This will require a more focused approach to sustainability initiatives, which have already created a positive halo and image for the group.

Kering has been applauded for its resilience in the face of sluggish growth in global luxury sales, but it needs to realize greater cost efficiencies as well as improve the performance of under-performing brands. This will involve a critical look at the company's operations and a commitment to making necessary changes.

A stronger long-term growth strategy will also involve hedging performance risks across portfolio brands, as LVMH has effectively done. By diversifying its portfolio and reducing its reliance on any one brand, Kering can better navigate the challenges of the luxury market.

In 2013, Kering rebranded from PPR to its current name, and under the leadership of François-Henri Pinault, who became CEO in 2005, the company has emphasized creativity and sustainability. This approach has enabled its brands to push creative boundaries while promoting responsible practices.

You might like: Long-Term Capital Management

Kering's commitment to sustainability is evident through initiatives like the Kering Foundation, established in 2008 to combat violence against women, and the Regenerative Fund for Nature, launched in 2021 to support regenerative farming practices.

The Kering Foundation has been working tirelessly since its inception in 2008 to combat violence against women.

In 2021, Kering took a significant step forward with the launch of the Regenerative Fund for Nature, a fund that supports regenerative farming practices.

This fund aims to promote sustainable agriculture and reduce the environmental impact of farming.

The Kering Foundation's efforts have made a tangible difference in the lives of women, and it's heartening to see the company continuing to prioritize this important issue.

A different take: 2021 Kellogg's Strike

Kering was founded in 1962 by François Pinault as a timber trading company.

The company's transformation began in 1999 with the acquisition of a 42% stake in Gucci, marking a strategic shift towards luxury goods.

This move solidified Kering's position in the luxury market, followed by further acquisitions of Balenciaga, Bottega Veneta, and Alexander McQueen.

These luxury brands have contributed to Kering's success, showcasing the company's ability to adapt and grow over the years.

Kering was founded in 1962 by François Pinault as a timber trading company. He laid the groundwork for the company's future success.

In 1999, Kering acquired a 42% stake in Gucci, marking a strategic shift towards luxury goods. This move set the stage for the company's expansion into the luxury market.

Kering's acquisitions of Balenciaga, Bottega Veneta, and Alexander McQueen solidified its position in the luxury market. These brands have become synonymous with high-end fashion and style.

LVMH is the parent company of Moet Hennessey, making them essentially the same entity in terms of ownership and operations.

Moet Hennessey was founded in 1971 by the merger of Moet & Chandon and Hennessey, but LVMH wasn't established until 1987.

LVMH is a French multinational conglomerate that owns over 70 luxury brands, including Moet Hennessey, making it one of the largest luxury goods companies in the world.

The combined entity of Moet Hennessey is responsible for producing some of the world's most iconic luxury brands, including Dom Perignon and Veuve Clicquot.

Moet Hennessey's portfolio includes over 20 champagne brands, making it the largest champagne producer in the world under the LVMH umbrella.

You might enjoy: Barons De Rothschild Champagne

Kering has a significant global presence with a network of 1,813 stores across various regions.

Their operations are spread across Western Europe, North America, Japan, and emerging markets, giving them a diverse customer base.

In the United States, Kering has a presence in three key locations: Los Angeles, CA, Scottsdale, AZ, and Hawthorne, CA.

Kering has a significant global presence with 1,813 stores across various locations.

The company's operations are spread across Western Europe, North America, Japan, and emerging markets.

Kering has a notable presence in the United States, with offices in Los Angeles, CA, and Scottsdale, AZ.

Additionally, the company has an office in Hawthorne, CA.

Here are some of the key locations where Kering has a presence:

Kering, the parent company of luxury brands, has a diverse range of activities that expand beyond fashion.

Kering owns several luxury brands, including Gucci, Yves Saint Laurent, and Boucheron, which were acquired in 1999 and 2000.

Some notable acquisitions include Bottega Veneta in 2001 and Brioni in 2011.

Kering also owns a cosmetics division, Kering Beauté, which is not a brand but a division.

In addition to fashion, Kering also owns a luxury eyewear production arm, Kering Eyewear.

Here is a list of some of the brands owned by Kering, along with their acquisition year and country of origin: