Kering Group Reports Difficult First Quarter, But Kering Eyewear Continues to Grow

PARIS—Kering Group (PARIS: KER) announced yesterday that Group revenue for the first quarter of 2025 amounted to €3.9 billion, down 14 percent both as reported and on a comparable basis; however, wholesale revenue from the Kering Eyewear and Kering Beauté segments rose by 2 percent. The Group said that sales from its directly operated retail network fell by 16 percent on a comparable basis. Trends in Asia-Pacific (-25 percent) were in line with the fourth quarter of 2024, while Western Europe (-13 percent), North America (-13 percent) and Japan (-11 percent) saw a sequential deceleration, the company reported. The Group said it closed 25 stores on a net basis in the first quarter of 2025, and now has a directly operated network of 1,788 units.