Slides
Page 1
KERING October 22, 2026 2026 Q3 REVENUE October 22, 2026
Page 2
DISCLAIMER 2KERING October 22, 2026 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 other forward -looking statements about Kering’s financial situation, operating results and business activities . They are not historical facts and express beliefs, anticipations and expectations based on current assessments and estimates of the Group’s executive management which are subject to numerous factors, risks and uncertainties ; they are not guarantees of future performance . Various factors, risks and uncertainties may cause actual figures to differ materially from those initially anticipated in particular those described in Kering’s Universal Registration Document (document d’enregistrement universel ) filed with the French Autorité des Marchés Financiers on April 21, 2026 , which is available on Kering’s website at www.kering .com. The information contained in this presentation has been selected by the Group’s executive management to present Kering’s Q3 2026 revenue. No representation or warranty, express or implied, is made in relation to, and none of Kering or any of its directors, officers, employees, advisers, affiliates or other representatives shall bear any liability or be liable for any loss arising from or related to, the accuracy or completeness of this presentation or any use of this presentation or its contents or otherwise arising in connection with this presentation . The Group expressly disclaims any and all liability whatsoever which may be based on such information, errors therein or omissions therefrom. Kering does not assume any obligation to update this presentation or provide any additional information, or to correct any inaccuracies in this presentation or any additional information which may become apparent .
Page 3
KERING October 22, 2026 Q3 REVENUE PRESENTATION Q&A SESSION Armelle Poulou, Group CFO AGENDA
Page 4
KERING October 22, 2026 Q3 2026 | HIGHLIGHTS 4 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 internal promotions Craftsmanship: nurturing talent Kering Accademia: first full academic year launched 1,500+ students, 7 partner schools in Italy KERING October 22, 2026
Page 5
KERING October 22, 2026 Q3 2026 | GROUP REVENUE 5 (in €m and change YoY) REVENUE CHANGE 2025 restated figures exclude Kering Beauté (IFRS 5) % comparable change: at constant scope and exchange rates PHASING AND COMPARISON EFFECTS – Phasing of collections and a demanding comparison base (10pts) – Softer macro trends POSITIVE IN- STORE CLIENT RESPONSE – Traffic remained the key constraint – Positive trends for c onversion rate, average price and average ticket PORTFOLIO BREADTH REMAINS A KEY STRENGTH – Solid momentum at Saint Laurent, Bottega Veneta and Brioni – Kering Eyewear and Kering Jewelry extend their strong trajectory HIGHLIGHTS Q3 25 Comparable Scope FX Q3 26 3,331 -1% 0% +1% 3,345 +0% reported
Page 6
KERING October 22, 2026 Q3 2026 | GROUP REVENUE 6 Q3 2026 Q3 2025 Change (%) Reported Comp. Kering Fashion & Leather Goods 2,743 2,774 -1% -3% o/w Gucci 1,291 1,343 -4% -6% Kering Jewelry 239 214 +12% +11% Kering Eyewear 373 352 +6% +4% Corporate & Other 27 28 -5% -5% Eliminations (37) (37) N/A N/A Kering 3,345 3,331 +0% -1% (% of Q3 revenue | comparable change YoY Q3 revenue) REVENUE BREAKDOWN BY REGIONREVENUE BREAKDOWN BY SEGMENT Western Europe 32% | -2% North America 25% | +2% Asia Pacific 27% | -5% Japan 8% | +4% RoW 8% | +2% (in €m)
Page 7
KERING October 22, 2026 Q3 2026 | GROUP REVENUE BY CHANNEL 7 DIRECTLY OPERATED STORES ROYALTIES & OTHER WHOLESALE KERING FASHION & LEATHER GOODS WHOLESALE KERING EYEWEAR 25%75%RETAIL INCL. E -COMMERCE WHOLESALE AND OTHER Q1 Q2 Q3 -2% +2% -3% Q1 Q2 Q3 +6% +3% +3% Q1 Q2 Q3 +7% +8% +4% Q1 Q2 Q3 +4% -2% +4% WHOLESALE KERING JEWELRY Q1 Q2 Q3 +14% -0% -5% Q1 Q2 Q3 +2% -1% +1% RETAIL KERING FASHION & LEATHER GOODS 1,614 -105 NET vs. YE 25 RETAIL KERING JEWELRY Q1 Q2 Q3 +28% +28% +18% Q1 Q2 Q3 -4% +0% -4% All figures exclude Kering Beauté (IFRS 5) % weight and % comparable change, based on revenue before eliminations.
Page 8
KERING October 22, 2026 29% 30% 10% 7% 24% 8 • Growth held up, albeit at a slower pace than in Q2, and tourism remained supportive • Strong contribution from Jewelry JAPAN Q3: +4% | Q1: -3%, Q2: +9% • Trends softened after several quarters of growth • Positive contribution from most Houses NORTH AMERICA Q3: +1% | Q1: +9%, Q2: +10% • Third consecutive quarter of sequential improvement • Both local and tourist spending improved sequentially WESTERN EUROPE Q3: flat | Q1: -7%, Q2: -1% • Middle East improved further its sequential recovery • Demand remained under pressure amid geopolitical tensions REST OF THE WORLD Q3: -5% | Q1: -8%, Q2: -8% • Mainland China remained the main headwind for the region • Strong momentum in South Korea ASIA PACIFIC Q3: -8% | Q1: -4%, Q2: -1% Q3 26 RETAIL REVENUE BY REGION: €2,539m Q3 2026 | RETAIL REVENUE BY REGION (% of Q3 retail revenue; Q3 comments) % comparable change: at constant scope and exchange rates.
Page 9
KERING October 22, 2026 9 KERING FASHION & LEATHER GOODS EXCLUDING GUCCI, F&LG RETAIL REMAINED POSITIVE THIS QUARTER • Saint Laurent confirmed its return to growth, driven by North America and Western Europe, as well as strong engagement from VICs and core clients • Bottega Veneta again outperformed across key markets, supported by sustained brand desirability • Balenciaga still affected by its creative transition, while leather goods remained resilient • McQueen pursued its repositioning, while Brioni delivered strong growth Q3 26 REVENUE PER GEOGRAPHYQ3 26 REVENUE (% of Q3 revenue | comparable change YoY Q3 revenue) WHOLESALE & OTHER REMAINED DISCIPLINED • Strict selectivity on distribution • Beauty and eyewear licenses remained a driver of royalties' growth DISTRIBUTION UPDATE • 113 net store closures achieved since year-end 2025 • Focus on productivity, refurbishments and network quality (in €m) Western Europe 32% | -5% Asia Pacific 27% | -5% RoW 9% |+2% Japan 7% | -7% North America 25% | +2% Q3 Change (%) Q3 26 Q3 25 Report. Comp. Revenue 2,743 2,774 -1% -3% o/w Retail (incl. e-commerce) 2,349 2,397 -2% -4% o/w Wholesale 302 295 +2% +1% o/w Royalties & Other 92 82 +13% +13%
Page 10
KERING October 22, 2026 10 Q3 RETAIL REVENUE DOWN 9% COMP • Demanding comparison base (+11pts last year) and phasing effect, with Primavera, a fashion-forward collection, fully deployed in September • Traffic remained the key challenge across regions, particularly in Mainland China, while conversion, average price and average ticket improved further • Ongoing reshaping of product and price architecture, with targeted adjustments to improve perceived value, led by Handbags Q3 Change (%) Q3 26 Q3 25 Report. Comp. Revenue 1,291 1,343 -4% -6% o/w Retail 1,143 1,234 -7% -9% o/w Wholesale 120 82 +47% +45% o/w Royalties & other 28 27 +3% +2% Q3 WHOLESALE & OTHER REVENUE UP 35% COMP • Wholesale represented c. 9% of Gucci revenue in Q3 • Growth reflects a low comparison base and order-book effects as new collections came through DISTRIBUTION UPDATE • 25 net store closures since year-end 2025 • Ongoing network optimization of which GUCCI Western Europe 31% | -9% Asia Pacific 27% | -6% RoW 8% | +4% Japan 7% | -16% North America 27% | -1% Q3 26 REVENUE PER GEOGRAPHYQ3 26 REVENUE (% of Q3 revenue | comparable change YoY Q3 revenue)(in €m)
Page 11
KERING October 22, 2026 11 KERING JEWELRY Q3 REVENUE UP 11% COMP • Boucheron maintained strong momentum, supported by the enduring appeal of its iconic collections Quatre and Serpent Bohème and good performance in Japan and South Korea • Pomellato continued to build momentum, particularly in Japan, driven by sustained demand for Nudo, Iconica and Together • Performance at DoDo and Qeelin was mixed, though the Houses moved forward with their product initiatives STRUCTURAL GROWTH ENGINE • Strong brand desirability across Houses • Growing retail footprint and integrated platform to support synergies Q3 26 REVENUE PER GEOGRAPHYQ3 26 REVENUE (% of Q3 revenue | comparable change YoY Q3 revenue)(in €m) Q3 Change (%) Q3 26 Q3 25 Report. Comp. Revenue 239 214 +12% +11% o/w Retail 183 155 +18% +18% o/w Wholesale 55 57 -4% -5% o/w Royalties & other 1 2 -41% -41% Western Europe 24% | -4% Asia Pacific 38% | -0% RoW 6% | +15% Japan 27% | +61% North America 5% | +9%
Page 12
KERING October 22, 2026 KERING EYEWEAR 12 Q3 2026 REVENUE: +6% REPORTED, +4% COMPARABLE ANOTHER QUARTER OF SOLID GROWTH • Growth reflected strong demand across the portfolio, despite an unfavorable phasing effect • Successful product launches, including Maui Jim ‘Eono and Lindberg 40th anniversary activations • Further evidence of the strength and scalability of the integrated model Q3 25 Comparable FX Q3 26 352 +4% +2% 373 (in €m and change YoY) KERING October 22, 2026
Page 13
KERING October 22, 2026 CORPORATE & OTHER 13 Q3 2026 REVENUE: -5% REPORTED, -5% COMPARABLE • 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 further progress in brand development and desirability across key markets (in €m and change YoY) KERING October 22, 2026 Q3 25 Comparable FX Q3 26 28 -5% 0% 27
Page 14
Rebuild desirability Creative renewal Primavera, Core and The Store Sharper organization to serve creativity Product, merchandising, marketing and retail operations Retail excellence New store concept, network optimization, sales force training Tackle the challenge Stronger operating model More decisions taken locally Client relevance Product offer, marketing, communication and commercial activations Network discipline Store optimization and refurbishments China Build an integrated Group Shared Group platforms Industry, Client and Tech Change management Accountability, execution focus and collective mindset Cost discipline Continued reduction of the cost base (new target of at least 125 net store closures by YE 2026) Enhance the offer Clearer architecture Product and price pyramids Higher quality Quality upgrades and fewer SKUs More responsive buying Faster time-to-market and disciplined open-to-buy Product development Efficiency BRICK BY BRICK: STEADY PROGRESS ON OUR PRIORITIES Gucci In a challenging environment, execution remains on track across the Group 14KERING October 22, 2026
Page 15
KERING October 22, 2026 OUTLOOK 15 Fully mobilized on the execution of the strategic plan Recurring operating margin improvement in FY2026 vs FY2025 Priority to quality of revenue and depth of transformation KERING October 22, 2026
Page 16
KERING October 22, 2026 Q&A 16
Page 17
KERING October 22, 2026 APPENDIX 17
Page 18
KERING October 22, 2026 9M 26 | GROUP REVENUE BREAKDOWN BY SEGMENT 18 In €m 9M Change (%) 9M 26 9M 25 Reported Comp. Kering Fashion & Leather Goods 8,543 8,889 -4% -2% 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) N/A N/A Kering 10,565 10,770 -2% +0%
Page 19
KERING October 22, 2026 19 €2,743m, -1% REPORTED, -3% COMPARABLE Q3 2026 REVENUE KERING FASHION & LEATHER GOODS QUARTERLY PERFORMANCE DIRECTLY OPERATED STORES As of Sept. 30, 2026 (net change vs. YE 2025) €m % comp. % report. Q1’26 Q2’26 Q3’26 2,852 2,948 2,743 -3% +0% -3% -9% -1% -1% YoY change Q3 26 9M 26 Western Europe North America Japan Asia Pacific RoW Total Retail -0% +1% -8% -10% -8% -4% -3% +7% -8% -6% -9% -3% YoY comparable change Western Europe 286 (-18 net) North America 277 (-23 net) Japan 170 (-18 net)1,390 -113 net RoW 137 (-12 net) Asia Pacific 520 (-42 net) Retail by geography
Page 20
KERING October 22, 2026 20 of which GUCCI QUARTERLY PERFORMANCE €m % comp. % report. Q1’26 Q2’26 Q3’26 1,347 1,410 1,291 -8% -2% -6% -14% -3% -4% YoY change Q3 26 9M 26 Western Europe North America Japan Asia Pacific RoW Total Retail -7% -3% -17% -14% -15% -9% -8% +5% -17% -11% -15% -7% YoY comparable change Western Europe 91 (-6 net) North America 100 (-11 net) Japan 61 (=)472 -25 net RoW 59 (-3 net) Asia Pacific 161 (-5 net) Retail by geography €1,291m, -4% REPORTED, -6% COMPARABLE Q3 2026 REVENUE DIRECTLY OPERATED STORES As of Sept. 30, 2026 (net change vs. YE 2025)
Page 21
KERING October 22, 2026 21 KERING JEWELRY QUARTERLY PERFORMANCE €m % comp. % report. Q1’26 Q2’26 Q3’26 269 252 239 +22% +18% +11% +14% +15% +12% YoY change Q3 26 9M 26 Western Europe North America Japan Asia Pacific RoW Total Retail -8% -10% +61% +4% +312% +18% -5% +10% +61% +14% +273% +24% YoY comparable change Western Europe 48 (-2 net) North America 8 (=) Japan 34 (+4 net) 210 +8 net RoW 10 (=) Asia Pacific 110 (+6 net) Retail by geography €239m, +12% REPORTED, +11% COMPARABLE Q3 2026 REVENUE DIRECTLY OPERATED STORES As of Sept. 30, 2026 (net change vs. YE 2025)
Page 22
GUCCI | SAINT LAURENT | BOTTEGA VENETA | BALENCIAGA | McQUEEN | BRIONI BOUCHERON | POMELLATO | DODO | QEELIN | GINORI 1735 KERING EYEWEAR