Kering shares dropped 9.3% in Paris following the release of first-quarter results for 2026.
Total group revenue decreased 6.2% to €3.57 billion. Flagship brand Gucci reported a 14.3% revenue decline to €1.35 billion. Gucci's organic revenue fell 8% during the period.
The performance indicates a slower-than-expected turnaround for the brand amid challenging macroeconomic conditions. These results highlight broader volatility in the luxury market and shifting high-end consumer spending habits.