In geography in the fourth quarter, Asia-Pacific fell 24% in annual shift in the fourth quarter, Japan fell by 6%, while sales fell 8% in Western Europe and down 9% in North America.
For the full year of 2024, Kering revenues fell 12% to 17.2 billion euros. Gucci sales were 7.7 billion euros, Saint Laurent 2.9 billion euros, Bottega Veneta 1.7 billion euros and other houses of 3.2 billion euros. The group’s recurrent operating profit for 2024 fell 46% to 2.6 billion euros.
All eyes are now on Gucci, while we are waiting to find out who will be the next creative director of the house. Kering last week announcement The release of Sabato de Sarno from the Italian house. Kering shares increased by 5.8% on the day of the announcement after falling at the opening, because investors assumed that the change would be positive for the house.
“A decision in the right direction – we expect – could possibly work as a catalyst for improving business and stock markets. The most credible name reported by the media – in our opinion – could be Hedi Slimane, “said Bernstein Luca Solca analyst.
“Our efforts must remain maintained and we are convinced that we have led Kering to a stabilization point, from which we will gradually resume our growth trajectory,” said François-Henri Pinault, President and Chief Executive Officer, in a press release.
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