Kering Sa · EURONEXT:KER
Kering Sa — Q3 2026 Earnings Presentation
22 slides from Kering Sa's earnings presentation, Oct 22, 2026
Slide 1: 2026 Q3 Revenue
2026 Q3 REVENUE October 22, 2026 KERING October 22, 2026
Slide 2: Disclaimer
DISCLAIMER This presentation does not constitute an offer of securities for sale or an invitation or inducement to invest in securities in France, in the United States of America or in any other jurisdiction. Certain information contained in this presentation may include perspectives and trends or o
Slide 3: Agenda
AGENDA Q3 REVENUE PRESENTATION Q&A SESSION Armelle Poulou, Group CFO KERING October 22, 2026
Slide 4: Q3 2026 Highlights
Q3 2026 | HIGHLIGHTS Houses: product execution first Strategies being deployed across all Houses Recent fashion shows: vision translated tangibly by each House Governance: building leadership depth Appointments at Bottega Veneta, Pomellato, DoDo and at Group level, combining external hires and inter
Slide 5: Q3 2026 Group Revenue
Q3 2026 | GROUP REVENUE REVENUE CHANGE HIGHLIGHTS (in €m and change YoY) PHASING AND COMPARISON EFFECTS +0% reported – Phasing of collections and a demanding comparison base (10pts) +1% 3,345 0% – Softer macro trends 3,331 -1% POSITIVE IN-STORE CLIENT RESPONSE – Traffic remained the key constraint –
Slide 6: Q3 2026 Group Revenue by Segment and Region
Q3 2026 | GROUP REVENUE REVENUE BREAKDOWN BY SEGMENT REVENUE BREAKDOWN BY REGION (in €m) (% of Q3 revenue | comparable change YoY Q3 revenue) Change (%) Q3 2026 Q3 2025 Reported Comp. North America Western Europe Kering Fashion & 2,743 2,774 -1% -3% 25% | +2% 32% | -2% Leather Goods o/w Gucci 1,291
Slide 7: Q3 2026 Group Revenue by Channel
Q3 2026 | GROUP REVENUE BY CHANNEL RETAIL INCL. E-COMMERCE 75% 25% WHOLESALE AND OTHER +2% +6% +3% +3% -2% -3% Q1 Q2 Q3 Q1 Q2 Q3 RETAIL RETAIL WHOLESALE WHOLESALE KERING FASHION & KERING JEWELRY KERING FASHION & KERING JEWELRY LEATHER GOODS LEATHER GOODS +28% +28% +14% +18% +0% +2% +1% -0% -4% -4% Q
Slide 8: Q3 2026 Retail Revenue by Region
Q3 2026 | RETAIL REVENUE BY REGION Q3 26 RETAIL REVENUE BY REGION: €2,539m (% of Q3 retail revenue; Q3 comments) NORTH AMERICA WESTERN EUROPE Q3: +1% | Q1: +9%, Q2: +10% Q3: flat | Q1: -7%, Q2: -1% • Trends softened after several quarters of • Third consecutive quarter of sequential growth improveme
Slide 9: Kering Fashion & Leather Goods
KERING FASHION & LEATHER GOODS Q3 26 REVENUE Q3 26 REVENUE PER GEOGRAPHY (in €m) (% of Q3 revenue | comparable change YoY Q3 revenue) Western Europe Q3 Change (%) 32% | -5% Q3 26 Q3 25 Report. Comp. Revenue 2,743 2,774 -1% -3% North America Asia Pacific o/w Retail (incl. e-commerce) 2,349 2,397 -2%
Slide 10: Of which Gucci
of which GUCCI Q3 26 REVENUE Q3 26 REVENUE PER GEOGRAPHY (in €m) (% of Q3 revenue | comparable change YoY Q3 revenue) Western Europe Q3 Change (%) 31% | -9% Q3 26 Q3 25 Report. Comp. Revenue 1,291 1,343 -4% -6% Asia Pacific North America o/w Retail 1,143 1,234 -7% -9% 27% | -6% 27% | -1% o/w Wholesa
Slide 11: Kering Jewelry
KERING JEWELRY Q3 26 REVENUE Q3 26 REVENUE PER GEOGRAPHY (in €m) (% of Q3 revenue | comparable change YoY Q3 revenue) Western Europe Q3 Change (%) 24% | -4% Q3 26 Q3 25 Report. Comp. North America Revenue 239 214 +12% +11% 5% | +9% Asia Pacific 38% | -0% o/w Retail 183 155 +18% +18% RoW o/w Wholesal
Slide 12: Kering Eyewear
KERING EYEWEAR Q3 2026 REVENUE: +6% REPORTED, +4% COMPARABLE (in €m and change YoY) +2% 373 +4% 352 Q3 25 Comparable FX Q3 26 ANOTHER QUARTER OF SOLID GROWTH • Growth reflected strong demand across the portfolio, despite an unfavorable phasing effect • Successful product launches, including Maui Jim
Slide 13: Corporate & Other
CORPORATE & OTHER Q3 2026 REVENUE: -5% REPORTED, -5% COMPARABLE (in €m and change YoY) 28 0% 27 -5% Q3 25 Comparable FX Q3 26 • Revenue of the segment reflects the end of rental income following the Group's real-estate transactions • Ginori 1735 delivered another quarter of double-digit growth, with
Slide 14: Brick by Brick: Steady Progress on Our Priorities
BRICK BY BRICK: STEADY PROGRESS ON OUR PRIORITIES In a challenging environment, execution remains on track across the Group Gucci China Product development Efficiency Rebuild desirability Tackle the challenge Enhance the offer Build an integrated Group Creative renewal Stronger operating model Clear
Slide 15: Outlook
OUTLOOK Fully mobilized on the execution of the strategic plan Priority to quality of revenue and depth of transformation Recurring operating margin improvement in FY2026 vs FY2025 KERING October 22, 2026 15
Slide 16: Q&A
Q&A KERING October 22, 2026 16
Slide 17: Appendix
APPENDIX KERING October 22, 2026 17
Slide 18: 9M 26 Group Revenue Breakdown by Segment
9M 26 | GROUP REVENUE BREAKDOWN BY SEGMENT In €m 9M Change (%) 9M 26 9M 25 Reported Comp. Kering Fashion & 8,543 8,889 -4% -2% Leather Goods of which Gucci 4,048 4,370 -7% -5% Kering Jewelry 760 669 +14% +17% Kering Eyewear 1,338 1,273 +5% +7% Corporate & Other 92 99 -6% -1% Eliminations (168) (160)
Slide 19: Kering Fashion & Leather Goods
KERING FASHION & LEATHER GOODS Q3 2026 REVENUE QUARTERLY PERFORMANCE €2,743m, -1% REPORTED, -3% COMPARABLE YoY change DIRECTLY OPERATED STORES As of Sept. 30, 2026 (net change vs. YE 2025) €m % comp. % report. Q1’26 2,852 -3% -9% North America Q2’26 2,948 +0% -1% Western Europe 277 (-23 net) Q3’26 2
Slide 20: Of which Gucci
of which GUCCI Q3 2026 REVENUE QUARTERLY PERFORMANCE €1,291m, -4% REPORTED, -6% COMPARABLE YoY change DIRECTLY OPERATED STORES As of Sept. 30, 2026 (net change vs. YE 2025) €m % comp. % report. Q1’26 1,347 -8% -14% North America Q2’26 1,410 -2% -3% Western Europe 100 (-11 net) Q3’26 1,291 -6% -4% 91
Slide 21: Kering Jewelry
KERING JEWELRY Q3 2026 REVENUE QUARTERLY PERFORMANCE €239m, +12% REPORTED, +11% COMPARABLE YoY change DIRECTLY OPERATED STORES As of Sept. 30, 2026 (net change vs. YE 2025) €m % comp. % report. North America RoW 8 (=) Q1’26 +22% +14% 269 10 (=) Q2’26 252 +18% +15% Q3’26 239 +11% +12% Western Europe
Slide 22: Kering brands
GUCCI | SAINT LAURENT | BOTTEGA VENETA | BALENCIAGA | McQUEEN | BRIONI BOUCHERON | POMELLATO | DODO | QEELIN | GINORI 1735 KERING EYEWEAR