Kering returned to revenue growth in the second quarter, with CEO Luca de Meo saying the luxury group is beginning to see “early signs of progress” across its brands as recent operational and commercial changes start to take effect.

The group reported second-quarter revenue of US$4.16 billion, up 1 per cent year-on-year, with growth supported by improved retail performance. Comparable sales from directly operated stores jumped 2 per cent, while wholesale and other revenue increased 3 per cent.

“Kering delivered improved performance in the second quarter, with revenue returning to growth,” de Meo said.

“The quarter also showed sequential acceleration, including at Gucci, driven by the actions taken over recent months.”

For the first half, revenue reached $8.22 billion, down 3 per cent versus the year prior. Recurring operating income totalled $1.04 billion, with the recurring operating margin improving to 12.8 per cent.

The company said the results were achieved while continuing to streamline its store network. 

After closing 75 net stores in 2025, Kering completed another 84 net closures during the first half of 2026 as part of its target to close 100 stores this year.

However, the group said geopolitical uncertainty continued to weigh on trading in the Middle East, reducing the group’s second-quarter revenue growth by around one percentage point.

Looking ahead, de Meo said Kering will continue to focus on execution while investing in technology and brand development.

“These first-half results demonstrate the positive impact of the decisive measures we have taken to reinforce the distinctiveness of our brands, simplify our organisation and increase effectiveness across the group,” he added.

“While the market environment remains demanding, we are focused on delivering our roadmap with discipline and consistency.”