The Group continues to invest in the exclusivity of its Houses and in strengthening distribution, with Kering Eyewear establishing itself as a strategic business and recording revenue growth
The Group's revenue amounted to €9.0 billion in the first half of 2024, down 11% compared to the previous year.
Sales from the retail system decreased by 12% on a comparable basis in the second quarter, negatively affected by lower store traffic.
As the Group continues to invest in its Houses, recurring operating income fell by 42% to €1.6 billion in the first half, in line with the Group's forecasts. Net income was €878 million in the first half of 2024.
Free cash flow from operations remained high at €1.9 billion in the first half, excluding real estate acquisitions, thanks to effective inventory management.
Kering Eyewear and Corporate continued its positive trend. In the first half of 2024, total revenue for the segment was €1.1 billion, primarily from Kering Eyewear and Kering Beauté activities.
Kering Eyewear's revenue in the first half of 2024 was €914 million, up 5% as reported and 6% on a comparable basis.
In the first half, Kering Eyewear's recurring operating income was €196 million.