By
Reuters
Published
September 29, 2025
Shares in Gucci-owner Kering hit their highest level of 2025 on Monday, on optimism that new chief executive Luca de Meo can turn the struggling fashion house’s fortunes around, following years of underperformance.
Kering shares climbed 3% to €283.25, surpassing their previous year-to-date high and marking their strongest level since August last year, though they remain more than 60% below their 2021 peak.
However, the luxury group’s stock has risen over 60% in the last three months on expectations that crisis specialist de Meo — the former Renault boss — can reignite sagging sales and materially cut costs.
Kering reported a 15% sales decline in the second quarter, the company said in July. Gucci, which generates around 45% of the group’s revenue, saw sales decline by 25%.
“Kering’s investment case continues to evolve amid ongoing management changes (new CEO joined recently), which brings a hope of a stabilisation for the group after multiple years of underperformance driven by Gucci,” UBS analyst Zuzanna Pusz said in a note on Monday.
“The upcoming results could show more signs of stabilisation with a sequentially narrowing sales decline, likely ahead of its peers,” Pusz added.
De Meo began his role earlier this month. The company is scheduled to report third-quarter sales on October 26.
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