Kering Restructures Business Segments to Align with Strategic Model
Event summary
- Kering will report performance indicators according to new operating segments starting Q1 2026.
- Segments include Fashion & Leather Goods (with Gucci reported separately), Kering Jewelry, Kering Eyewear, and Corporate & Other.
- 2025 financial figures have been restated to reflect the new segmentation.
- Fashion & Leather Goods segment saw a 15% revenue decline in 2025, while Kering Jewelry grew by 4%.
- Gucci's revenue declined by 22% in 2025, with significant drops in Western Europe and Asia Pacific.
The big picture
Kering's restructuring aligns its reporting segments with its strategic model, reflecting a broader industry trend towards clearer performance tracking in luxury goods. The move highlights the challenges faced by its flagship brand Gucci, while Kering Jewelry emerges as a growth area. The company's ability to navigate regional market fluctuations will be critical in sustaining overall performance.
What we're watching
- Segment Performance
- How the newly segmented businesses will perform individually, particularly Kering Jewelry which showed growth.
- Geographic Trends
- Whether Kering can reverse declining sales in key markets like Japan and Asia Pacific.
- Strategic Realignment
- The impact of the upcoming Capital Markets Day on April 16, 2026, where Kering will detail its strategic evolution.
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