Luxury / news
Kering Eyewear Achieves Record First-Half Performance; Parent Group Revenue Declines Slightly
Kering Eyewear delivered a record first-half performance, contributing to the luxury group's €7.22 billion in revenue, down 3% year-on-year but with Q2 growth.
The eyewear division's strong momentum helped offset broader challenges in Kering's portfolio. Group revenue for the six months ended 30 June reached €7.22 billion, a 3% decline from the prior year on a reported basis, though like-for-like sales edged up 1%.
In the second quarter, revenues rose 1% (2% on a comparable basis) to €3.65 billion, supported by a notable acceleration at Gucci. Recurring operating income improved to €921 million, with the operating margin expanding 40 basis points to 12.8%.
Net income from continuing operations attributable to the group fell about 13% year-on-year to €355 million, excluding non-recurring items. CEO Luca de Meo said the group saw early signs of progress in brand desirability and commercial momentum, particularly in the second quarter.
He highlighted the "decisive measures" taken to reinforce brand distinctiveness, streamline operations, and boost effectiveness across the luxury conglomerate. De Meo also noted the ongoing rollout of group platforms, leveraging technology to enhance efficiency, client engagement, and execution across the houses.
The eyewear unit's record performance was a standout amid the overall resilient results.