How Gucci Makes Money

Gucci makes money mainly by selling its own products in its own stores. In 2025, directly operated retail, including e-commerce, accounted for 92% of Gucci revenue; wholesale and other revenue made up the rest (~$318 million (€281 million) in H1 2026). Leather goods such as handbags, wallets and luggage are the core category, followed by shoes and ready-to-wear. Gucci-branded eyewear is designed and distributed by sister company Kering Eyewear, and Gucci fragrances and cosmetics are produced under licence by Coty. In July 2026 Gucci signed a 50-year exclusive beauty licence with L'Oréal, expected to take effect in mid-2027. Kering has also been cutting its store count (75 net closures in 2025 and 84 in H1 2026 across the group) and pulling back from wholesale to protect exclusivity.

The current plan, part of Kering's ReconKering roadmap presented on April 16, 2026, has three parts. The first is creative: Demna's collections, starting with La Famiglia in September 2025 and his first runway show in February 2026, aim to make Gucci feel like Gucci again. The second is commercial: launching new bag lines, tightening distribution and closing weaker stores. The third is brand reach: the Alpine F1 partnership and the move of Gucci Beauty to L'Oréal on a 50-year licence.