Kering reported this Wednesday a billing for the first three quarters of the year of 12.8 billion euros, which represents a decrease of 12% compared to the same period in 2023. The group accused the decline of Gucci, its flagship, in the third quarter, in which it saw its sales fall 26% from the last year, to 1.6 billion. In the last quarter, Gucci «was particularly affected by market conditions, especially in Asia-Pacific«, and recorded a drop in wholesale revenue of 38%, reflecting its «strategic rationalization for this distribution channel, along with difficult market conditions.» Meanwhile, Yves Saint Laurent's third quarter revenue was €670 millionwhich represents a year-on-year drop of 13%, although its shows «continue to garner universal praise and the house is further enriching its lines of leather goods, with numerous product launches planned between now and the end of the year.» For its part, Bottega Veneta's revenue grew by 4% and amounted to 397 million eurosthanks to «revenues in the retail network operated directly by the house», which were «particularly strong, with a 9% increase on a comparable basis, driven by double-digit growth in North America and Western Europe.» Looking to the future, the group assures that, despite the «environment of continued economic and geopolitical uncertainty«, will continue to «execute its strategy and vision, pursuing two key ambitions: maintaining a long-term profitable growth trajectory and confirming its status as one of the most influential companies in the luxury industry.» «Taking into account the important uncertainties that will likely affect demand among luxury consumers in the coming months and following the greater than expected slowdown in the third quarter of the year, Kering's operating profit in 2024 could total approximately €2.5 billion«he concludes.