Kering is a world leader in luxury, managing a portfolio of renowned houses in fashion, leather goods, jewelry, eyewear, and beauty. The group places creativity at the core of its strategy, while driving long-term sustainable and responsible luxury. With approximately 46,930 employees globally and a retail footprint of 1,813 directly operated stores, Kering embodies innovation and excellence in luxury craftsmanship.
In 2024, Kering reported:
- Revenue: €17.2 billion
- Recurring Operating Income: €2.55 billion
- Free Cash Flow: €1.43 billion
- Net Income: €1.13 billion
- Dividend per Share: €6.00
Kering is committed to sustainability and leads through initiatives aligned with science-based climate targets. The group actively integrates climate risks into its core strategy, championing regenerative agriculture, circularity, biodiversity, and inclusive values.
Comprehensive History
Founded in 1963 by François Pinault as a timber and building materials company, Kering has transformed through the decades into a pure-play luxury conglomerate.
Milestones:
- 1999: Entry into luxury with a 42% stake in Gucci
- 2001–2003: Acquisition of Boucheron, Bottega Veneta, Balenciaga, Alexander McQueen, Stella McCartney
- 2005: François-Henri Pinault becomes CEO
- 2013: Company name changed to Kering
- 2015: Launch of Environmental Profit & Loss Account
- 2023–2024: Launch of Kering Beauté and acquisition of fragrance brand Creed and 30% stake in Valentino
This strategic evolution has created a focused luxury group with a diversified portfolio of high-end brands.
Business Segments and Revenue Breakdown
Kering operates through five major reporting segments:
| Segment | Revenue (€ Million) | % of Total Revenue | Recurring Operating Income (€ Million) |
|---|---|---|---|
| Gucci | 7,650 | 44.5% | 1,605 |
| Yves Saint Laurent | 2,881 | 16.8% | 593 |
| Bottega Veneta | 1,713 | 10% | 255 |
| Other Houses | 3,221 | 18.7% | -9 |
| Kering Eyewear & Corporate | 1,941 | 11.3% | 112 |
| Total | 17,194 | 100% | 2,554 |
Products and Services with Revenue Breakdown
Kering offers a wide range of luxury products and services through its houses. These include:
- Leather Goods – 50% of revenue
- Shoes – 20%
- Ready-to-wear – 17%
- Watches & Jewelry – 4%
- Other Products (Eyewear, Fragrance) – 9%
Key Services and Capabilities:
- High-end eyewear production (Kering Eyewear)
- Luxury fragrances (Kering Beauté)
- Product innovation and prototyping
- Sustainability consulting and lifecycle assessments
- Real estate management for flagship boutiques
Brand Portfolio and Performance
Kering’s houses each assert unique creative identities. Here’s the list of key brands under Kering’s umbrella:
| House | Focus Area | 2024 Highlights |
|---|---|---|
| Gucci | Leather goods, fashion, jewelry | €7.65B revenue, 529 stores |
| Yves Saint Laurent | Apparel, leather, fragrance | €2.88B revenue, 295 stores |
| Bottega Veneta | Craft leather, footwear, RTW | €1.71B revenue, 282 stores |
| Balenciaga | Street-luxury apparel, sneakers | Owned under Other Houses |
| Alexander McQueen | Haute couture, avant-garde design | Owned under Other Houses |
| Brioni | Men’s tailoring | Owned under Other Houses |
| Boucheron | High Jewelry | Owned under Other Houses |
| Pomellato & DoDo | Jewelry | Owned under Other Houses |
| Qeelin | Chinese heritage fine jewelry | Owned under Other Houses |
| Kering Eyewear | Premium eyewear | €1.9B revenue |
| Kering Beauté | Luxury fragrance and cosmetics | Launched Creed perfume line |
Geographical Presence and Revenue Breakdown
| Region | Revenue Share (%) | No. of Stores (2024) |
|---|---|---|
| Asia-Pacific (excl. JP) | 30% | 180 |
| Western Europe | 29% | 103 |
| North America | 25% | 114 |
| Japan | 9% | 69 |
| Rest of the World | 8% | 63 |
Total: 1,813 directly operated stores across five continents.
Financial Statements
Consolidated Profit & Loss Statement (in € millions)
| Line Item | 2024 | 2023 | Change |
|---|---|---|---|
| Revenue | 17,194 | 19,566 | -12% |
| EBITDA | 4,667 | 6,569 | -29% |
| Recurring Operating Income | 2,554 | 4,746 | -46% |
| Net Income (Group share) | 1,133 | 2,983 | -62% |
Consolidated Balance Sheet (in € millions)
| Item | 2024 | 2023 |
|---|---|---|
| Equity | 15,730 | 16,010 |
| Net Debt | 10,517 | 8,504 |
| Net Debt-to-Equity Ratio | 66.9% | 53.1% |
Cash Flow Statement (in € millions)
| Item | 2024 | 2023 |
|---|---|---|
| Free Cash Flow from Operations | 1,432 | 1,983 |
| Free Cash Flow excl. real estate | 3,568 | 3,321 |
Subsidiaries, Wholly-Owned Subsidiaries and Associates
Kering’s major subsidiaries include:
| Entity Name | Ownership | Segment |
|---|---|---|
| Gucci Group NV | 100% | Fashion |
| Yves Saint Laurent SAS | 100% | Fashion |
| Bottega Veneta SRL | 100% | Fashion |
| Kering Eyewear SpA | 100% | Eyewear |
| Kering Beauté SAS | 100% | Beauty |
| Creed Holdings | 100% | Fragrance |
| Pomellato SpA | 100% | Jewelry |
| Qeelin Fine Jewelry | Majority | Jewelry |
| Brioni Roman Style | 100% | Tailoring |
Full list of all entities is in Note 34 of consolidated accounts.
Physical Properties and Infrastructure
- Paris Headquarters: Former Laennec Hospital, Left Bank
- New York: 5th Avenue luxury flagship
- Milan: Monte Napoleone property acquisition
- Trecate (Italy): High-tech logistics hub
- Prototyping Labs: In-house product development centers in Italy and France
Founders and Leadership Background
François Pinault founded the group in 1963 as Pinault SA. His son, François-Henri Pinault, is Chairman & CEO. Under his leadership since 2005, Kering has transitioned to a luxury powerhouse. He is also known for social advocacy and climate leadership in the fashion industry.
Board of Directors
| Name | Title |
|---|---|
| François-Henri Pinault | Chairman & CEO |
| Véronique Weill | Lead Independent Director |
| Serge Weinberg | Chair, Appointments Committee |
| Giovanna Melandri | Chair, Sustainability Committee |
| Dominique D’Hinnin | Chair, Audit Committee |
| Yonca Dervisoglu | Independent Director |
| Rachel Duan | Independent Director |
| Concetta Battaglia | Climate Change Lead |
| Jean-Pierre Denis | Independent Director |
| Maureen Chiquet | Independent Director |
| Baudouin Prot | Independent Director |
| Héloïse Temple-Boyer | Director (Artémis representative) |
| Vincent Schaal | Employee Representative |
Shareholding Structure
| Shareholder | % Ownership |
|---|---|
| Artémis (Pinault family) | 42.3% |
| Institutional Investors | 52.6% |
| Employees | 0.2% |
| Individual Shareholders | 4.2% |
| Treasury Shares | 0.7% |
Parent Company
Artémis, the Pinault family’s holding company, is the controlling shareholder of Kering, holding 42.3% of the capital.
Investments and Passive Holdings
Kering holds minority/passive stakes in:
- Valentino (30%) – Strategic fashion investment
- Vestiaire Collective (~5%) – Sustainable fashion resale platform
- Other equity interests are held in innovation-focused ventures through Kering Ventures
Future Investment Plans
- Continued elevation of Gucci and Saint Laurent
- Strategic real estate acquisitions for brand flagships
- Expansion of Kering Beauté, including future product lines for Balenciaga and Alexander McQueen
- Investments in digital and data capabilities
- Growth of regenerative agriculture projects
- Kering Generation Awards expansion to support sustainable fashion startups worldwide
What is Kering and what does the company do?
Kering is a global luxury group that manages a portfolio of prestigious fashion, leather goods, jewelry, eyewear, and beauty brands including Gucci, Saint Laurent, Bottega Veneta, Balenciaga, and more. The group emphasizes creativity, craftsmanship, and sustainability.
Which brands are owned by Kering?
Kering owns and manages Gucci, Yves Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, Kering Eyewear, and Kering Beauté.
What is Kering’s annual revenue?
In 2024, Kering generated €17.2 billion in revenue with a recurring operating income of €2.55 billion and a net income of €1.13 billion.
Where does Kering operate?
Kering operates globally, with key markets in Asia-Pacific, Western Europe, North America, and Japan. It manages over 1,800 directly operated stores worldwide.
Who is the founder and CEO of Kering?
Kering was founded by François Pinault in 1963. The current Chairman and CEO is his son, François-Henri Pinault, who has led the group since 2005.
