Kering shares keep climbing as turnaround gathers pace

Shares in French luxury group Kering, the owner of Gucci, rose nearly 9% in early Paris trading after the company reported quarterly results showing that sales fell less than analysts had expected.

According to the latest update, sales declined by 5% in the last quarter, compared with a deeper drop forecast by analysts. This was the first earnings report under new CEO Luca de Meo, who took office in September.

Since de Meo’s appointment was announced in June, Kering’s shares have nearly doubled, making them one of the best performers in Europe’s luxury sector in 2025. Deutsche Bank analysts highlighted “positive signals from Gucci,” including the strong performance of new handbag models, while Citi noted a “notable absence of earnings downgrades for the first time in three years,” though it cautioned that the ongoing rally has the hallmarks of a FOMO (fear of missing out) trade.