Hermes third quarter sales rose by five percent to 3.9 billion euros while kering keeps losing

HERMES said sales growth in the United States accelerated slightly in the third quarter by 7.2 percent to 714 million euros ($829 million). “In the Americas we had a very good third quarter, in particular in the United States with growth driven by all product lines,” said chief financial officer Eric du Halgouet.
Hermes said earlier this year that it hoped to avoid raising prices in the United States further despite the new 15 percent tariff on goods from the EU, but warned the weak dollar was also weighing on performance. The gain in sales would have been 14.1 percent had the dollar not fallen. Halgouet said Hermes had kept prices steady since the EU-US tariff deal in July. “We’ll continue to invest in this strategic market,” he said, noting the opening of a new store in Nashville, Tennessee, earlier this month.
Overall, the company’s third quarter sales rose by five percent to 3.9 billion euros. That puts it ahead of the world’s biggest luxury group LVMH, which reported last week that its third-quarter revenue dropped four percent due to adverse currency movements. In China, the key market for luxury firms where sales have recently faced headwinds, Hermes posted flat third quarter revenues.The company’s share price dropped 4.7 percent in morning trading in Paris. Hermes expressed confidence in the medium-term outlook. “Despite the economic, geopolitical and monetary uncertainties around the world, the group confirms an ambitious goal for revenue growth at constant exchange rates,” it said in a statement.
Hermes announced Tuesday that British designer Grace Wales Bonner would is taking over its men’s pret-a-porter collection from Veronique Nichanian, who has held the position for nearly four decades. The new creative direction at Hermes is just the latest in a series of artistic changes at the big fashion houses, notably at Chanel, Dior, Balenciaga, Loewe and Jean Paul Gaultier.
The luxury sector is currently going through a challenging period for sales globally that is impacting many companies, but Hermes has been well-protected from the buffeting. Over the first nine
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​Kering

• Revenue for the third quarter of 2025

FinanceWednesday, October 22, 2025Revenue for the third quarter of 2025
Group revenue: €3,415 million
down 10% as reported and down 5% on a comparable basis
 
“Kering’s third-quarter performance, while representing a clear sequential improvement, remains far below that of the market. This reinforces my determination to work on all dimensions of the business to return our Houses and the Group to the prominence they deserve. We are working relentlessly on our turnaround, as shown by our recent decisions.”
Luca de Meo, CEO
Group revenue in the third quarter of 2025 was €3.4 billion, down 10% as reported and down 5% on a comparable basis. The change in revenue as reported includes a negative currency effect of 5%.
The 5% decrease in comparable revenue in the third quarter represents a sharp sequential improvement (-15% in the second quarter of 2025), of which approximately one-half is due to the performance of Kering’s Houses beyond the favorable base of comparison. 
By channel, in the third quarter of 2025:

• Sales from the directly operated retail network fell 6% on a comparable basis, with all regions contributing to the sequential improvement (-16% in the second quarter of 2025).
• Wholesale and Other revenue was down 2% on a comparable basis. 
  In the first nine months of the year, the Group generated revenue of €11.0 billion, down 14% as reported and down 12% on a comparable basis.

 

Gucci

In the third quarter of 2025, Gucci’s revenue amounted to €1.3 billion, down 18% as reported and down 14% on a comparable basis. 
Sales from the directly operated retail network were down 13% comparable. This sharp sequential improvement compared to the second quarter, was notably driven by stronger momentum in North America and Western Europe, along with the success of new products, particularly Leather Goods. Wholesale revenue was down 25% on a comparable basis.
Towards the end of the quarter, Gucci presented its La Famiglia collection, which confirmed the House’s return to the forefront of fashion.
 

Yves Saint Laurent

Yves Saint Laurent’s revenue in the third quarter of 2025 was €620 million, down 7% as reported and down 4% on a comparable basis.
Sales from the directly operated retail network dropped 2% on a comparable basis, which again represented a major sequential improvement. Sales returned to growth in North America and decreased only slightly in Western Europe. New collections were enthusiastically received, and the House saw double-digit growth in Ready-to-Wear and Shoes. The refresh of Yves Saint Laurent’s Leather Goods offer is also starting to pay off.
Wholesale revenue was down 16% on a comparable basis, in line with the House’s rationalization strategy.
 
 
Bottega Veneta

Bottega Veneta’s revenue totaled €393 million in the third quarter of 2025, down 1% as reported and up 3% on a comparable basis. 
The increase in revenue from the House’s directly operated retail network was very solid, up 5% on a comparable basis, driven in particular by double-digit growth in North America. Ready-to-Wear and Shoes saw the strongest growth, and the launch of the Campana bag showed very promising results.
Wholesale revenue fell 9% on a comparable basis.
 

Other Houses

Revenue from the Group’s Other Houses totaled €652 million in the third quarter, down 5% as reported and up 1% on a comparable basis. 
Sales from the directly operated retail network were stable on a comparable basis. Wholesale revenue of the Other Houses was up 5% on a comparable basis.
Trends improved at Balenciaga across all product categories, thanks in particular to North America.   At McQueen, the decline in revenue moderated thanks to higher women’s ready-to-wear sales. Brioni maintained its growth, with a sharp increase in retail sales in Western Europe, North America and Japan.
The Jewelry Houses saw very solid momentum, with revenue up double digits. Boucheron’s development in the United States and Asia-Pacific was particularly encouraging. Revenue was up at Pomellato, whose High Jewelry line was very well received. Qeelin maintained its very positive trajectory in Asia-Pacific.
 

Kering Eyewear and Corporate

Revenue of the Kering Eyewear and Corporate segment totaled €448 million in the third quarter of 2025, up 2% as reported and up 6% on a comparable basis. 
Kering Eyewear’s revenue rose by 7% on a comparable basis during the quarter. Very firm growth was recorded in all key regions and across the brand portfolio, with solid performances notably from Maui Jim and Lindberg. The partnership with Valentino, announced in September and scheduled to start with the Spring-Summer 2026 collection, represents a new phase in Kering Eyewear’s development.
Kering Beauté recorded growth, with revenue up 3% on a comparable basis. Its third-quarter highlights included the launch of Balenciaga’s first fragrance collection and Creed’s new Oud Zarian perfume.
 
 
About Kering

Kering is a global, family-led luxury group, home to people whose passion and expertise nurture creative Houses across ready-to-wear and couture, leather goods, jewelry, eyewear and beauty: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, McQueen, Brioni, Boucheron, Pomellato, Dodo, Qeelin, Ginori 1735, as well as Kering Eyewear and Kering Beauté. Inspired by their creative heritage, Kering’s Houses design and craft exceptional products and experiences that reflect the Group’s commitment to excellence, sustainability and culture. This vision is expressed in our signature: Creativity is our Legacy. In 2024, Kering employed 47,000 people and generated revenue of €17.2 billion.