Fashion

Kering’s $3.9 billion quarter shows Gucci isn’t fixed yet

By Zofia Zwieglinska

Apr 14, 2026

On Tuesday, Kering reported first-quarter revenue of €3.57 billion, or roughly $3.9 billion, down 6% on a reported basis and flat on a comparable basis. The numbers point to stabilization at the group level, but the story remains unchanged. Gucci is still the problem, accounting for roughly 38% of Kering's sales, and the turnaround is not landing fast enough.