Kering as a whole is having trouble as a company lol. They're quarterly earning have been dropping since last year. Publicly Gucci has been getting all the drama press because it's their highest earner, but sales have fallen across the board for most of their brands. This however,
varies from category to category (other items such as eyewear and makeup have either stayed strong or saw an increase in revenue).
Taken from Google AI
Kering's 2024 annual results, released on February 11, 2025, showed a 12% decrease in revenue compared to 2023. The company's recurring operating income also fell by 46% year-over-year, and the recurring operating margin dropped to 14.9%.
Key Points:
- Revenue Decline: Kering's group revenue for 2024 was €17.2 billion, down 12% compared to 2023.
- Operating Income: The recurring operating income was €2.554 billion, a 46% decrease compared to 2023.
- Gross Margin: The gross margin declined to 66% in 2024, down from 71% in 2023.
- Key Brand Performance: Gucci's revenue dropped 24% in the fourth quarter and 23% overall, while Saint Laurent's revenue decreased by 8% in Q4 and 12% overall.
- Wholesale Revenue: Wholesale revenue decreased significantly, particularly in the fourth quarter, with a 53% drop on a comparable basis.
- Jewelry Houses: Kering's Jewelry Houses demonstrated a resilient performance.
- Other Houses: Sales of the Other Houses were down 4% in Q4 on a comparable basis, with varying performance across individual brands.
- Eyewear and Corporate: This segment generated revenue of €440 million in Q3, up 32% as reported.
You can also go to Kering's website, since they post their results publicly.
Dated, hmm, depends. If you consider the literal amount of time that has passed since the camera bag has came out with the tassel, yes, it's been a while. But how long one considers things or styles to be dated depends on subjective interpretation of society.
Tassels, to me, are like bag charms, so they come and go.
Which envelope? lol, they're so many variations of the envelop bag that its hard to keep track of.
I know that they've been a little heavy on price increases the past few years. In recent years they've also pulled their bags from 3rd party online sellers or removed the ability to use discounts and coupons for for 3rd party online and brick&mortar stores.
From a creative or design perspective, I feel like YSL remains true to its identity and style while trying to freshen up things here and there. While most of their bags are heavily logoed, they are very much if-you-know-you-know when it comes to some of their shoes but mainly RTW. Anthony Vaccarello, I personally believe, remains true to the house codes and yet gives YSL its own distinct style and flair that is recognizable but not obvious, striking yet not avant garde, wearable (occasionally borderline boring haha) but flattering and well-constructed. Not in the sense that, wow, you're wearing YSL, but more like, wow, I love your jacket or pants (I get many compliments from wearing YSL, and yet most don't really know it's YSL until I tell them)
As for how the brand will do in the future, only time will tell. I did think they did push the price increases a little too hard and too fast. However, they have been price adjusting on bags and RTW here and there. Not by alot, maybe a decrease of $100-$300.
They have not decided to drop shoe prices, which makes me sad because I do like their shoes. But now I really need to consider what to buy when they're all basically $1k at this point.
