Kering Reports Stable Q3 Revenue as Eyewear Growth Offsets Gucci Decline

French luxury group Kering reported third-quarter 2026 revenue of €3.35 billion ($3.76 billion), remaining stable on a reported basis but declining 1 percent on a comparable basis year-over-year. The performance was supported by a positive currency effect of one percentage point. While the Fashion & Leather Goods division saw a 3 percent comparable decline driven by Gucci's 6 percent drop in retail sales due to lower traffic in Mainland China and Japan, other segments performed well. Kering Eyewear recorded revenue of €373 million, up 4 percent on a comparable basis, aided by regional expansion and new collections from Lindberg and Maui Jim. The Jewelry division also grew 11 percent comparably. In terms of distribution, Kering closed 128 stores and opened 23 during the first nine months, surpassing its initial target of 100 net closures ahead of schedule. CEO Luca de Meo stated that Gucci's recovery remains the defining priority.