Luxury group Kering has reported its financial results for the first half of 2024, when revenue was down 11% both reported and comparable to €9 billion.

Revenue in the second quarter of the year alone was €4.5 billion, dropping by the same amount year-on-year. This includes a negative currency effect of 1%.

Sales from the directly operated retail network were down 12% on a comparable basis in Q2, following a decline in store traffic. Wholesale and other revenue was down 6% for the quarter.

Trends were reportedly similar to the first quarter results, though Kering saw an improvement in Japan and a deceleration in Asia-Pacific as a whole.

To read the rest of this report by ILM, click on Kering results.