The French luxury group reports €14.7 billion in 2025 revenue but accelerates store closures to boost sales density.
Kering will close at least 217 stores by July 2026, accelerating a network rationalization amid a luxury market slowdown. The group, owner of Gucci and Saint Laurent, reported €14.7 billion in 2025 revenue but faced a 5% decline at LVMH and broader sector pressures.
In 2025, Kering closed 133 stores while opening 58, resulting in a net reduction of 75. The company cited shifting consumer preferences and leadership changes as key challenges during its Q4 2025 earnings call.
The move follows industry-wide margin pressures, with Saks Global filing for Chapter 11 bankruptcy earlier this year. Kering aims to strengthen sales density through targeted closures.