Despite efforts to revive the brand, Gucci continues to struggle, dragging down the financial performance of Kering. The French luxury firm ended the year with a 62% decrease in net profit, which fell to 1.13 billion, and revenues down 12% to 17.2 billion. The result of the Florentine maison weighs heavily, representing nearly two-thirds of the group's profits, with a 23% drop in revenue to 7.6 billion. Chairman and CEO Henri Pinault explains how 2024 "has been a challenging year for Kering, as the company has been undergoing a transformation in an adverse market environment". He also notes that "the conditions were even more challenging than they had been anticipated". Pinault is positive about the group's future, particularly about the Florentine fashion house: "Gucci will be back, I have absolutely no doubt about that", he says. The "slight positive surprise" for Kering is Bottega Veneta's "strong growth" of +17%. Among the other brands, Yves Saint Laurent reported 2.9 billion in revenue, a 9% decrease, while the group's other maisons reported 3.2 billion, an 8% decrease.