Kering’s sales remained stable on a like-for-like basis in the first quarter of 2026

Despite the ongoing decline in sales at Gucci, its flagship brand, and the conflict in the Middle East, which cost the group one percentage point of growth, the group led by Luca de Meo posted stable like-for-like revenue (though down 6% on a reported basis) for the first three months of the year.

Luca de Meo’s strategy is beginning to bear fruit.

For the first time in a long while, Kering, led since last September by the former Renault CEO, announced stable comparable sales of €3.57 billion in the first quarter of 2026. This is in line with what analysts surveyed by FactSet had expected.

A significant first step

Luca de Meo, Kering’s CEO, sees this stabilization as “a significant first step in its recovery trajectory, as well as a further sequential improvement” and emphasizes that this “growth momentum has affected nearly all of our Houses, with a particularly strong contribution from jewelry.”

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Read more > The stock market welcomes Kering’s 2025 results

Featured photo: © Gucci