Gucci vs Louis Vuitton: Revenue, Profit and Business Model
Gucci reported ~$6.8B of revenue in FY2025 and — of net income. Louis Vuitton does not publish annual revenue.
Latest financial snapshot
Gucci
- Latest revenue
- ~$6.8B (FY2025)
- Net income
- —
- Net margin
- 0.0%
- Revenue growth
- -22.1% a year, FY2023–FY2025
Louis Vuitton
Louis Vuitton does not publish annual revenue or profit.
Financial summary
Gucci
Gucci's numbers show the boom and bust of fashion-led luxury. Under creative director Alessandro Michele and CEO Marco Bizzarri (2015-2022), revenue more than doubled to a peak above ~$11.3 billion (€10 billion) in 2022. When that maximalist look fell out of favour, sales fell to ~$11.2 billion (€9.87 billion) in 2023, ~$8.64 billion (€7.65 billion) in 2024 and ~$6.78 billion (€6.0 billion) in 2025. Recurring operating income fell to ~$1.09 billion (€966 million) in 2025. In H1 2026, revenue was ~$3.12 billion (€2,757 million) (down 9% reported, 5% comparable), but margin improved to 17.0% and Q2 retail sales did 7 points better than Q1.
Louis Vuitton
LVMH does not disclose Louis Vuitton's revenue or margin, so any precise standalone figure is an estimate. The reported proxy is the Fashion & Leather Goods business group, which also contains Dior, Celine, Loewe, Fendi, Givenchy, Loro Piana and others: ~$47.7 billion (€42.169 billion) of revenue in 2023, ~$46.4 billion (€41.060 billion) in 2024 and ~$42.7 billion (€37.770 billion) in 2025, with recurring operating profit falling from ~$19 billion (€16.836 billion) to ~$14.9 billion (€13.209 billion). In H1 2026 the group posted ~$20.5 billion (€18.146 billion) of revenue (versus ~$21.6 billion (€19.115 billion) a year earlier) and ~$7 billion (€6.195 billion) of recurring operating profit, a margin of about 34%. LVMH said the segment returned to organic growth of 1% in Q2 2026, helped by a fast acceleration in the United States.
Revenue and profit by year
Gucci
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$6.8B | — | 0.0% | -21.7% | Source |
| FY2024 | ~$8.6B | — | 0.0% | -22.5% | Source |
| FY2023 | ~$11.2B | — | 0.0% | — | Source |
Louis Vuitton
Louis Vuitton does not publish annual revenue. What is known about its finances is in the summary above.
Full Louis Vuitton financialsWhere the revenue comes from
Gucci
- Directly Operated Retail and E-commerce
92% (2025)
Sales through Gucci's own boutiques and gucci.com.
- Wholesale and Other
8% (2025)
Selected wholesale partners plus royalties, including beauty licence income. ~$318 million (€281 million) in H1 2026.
Louis Vuitton
- Leather goods~45%
Leather goods
- Fashion and shoes~25%
Fashion and shoes
- Accessories~15%
Accessories
- Fragrance and licensing~10%
Fragrance and licensing
Business model and strategy
Gucci
How it 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.
Growth strategy
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.
Competitive advantage
Gucci's advantage is a century-old archive of recognisable codes: the GG monogram, the Horsebit, the Web stripe and the Bamboo handle. A new brand cannot copy that kind of heritage. Gucci also sells mostly through its own stores, which lets it control pricing and avoid discounting, and it can draw on Kering's shared platforms for eyewear, logistics, real estate and technology.
Louis Vuitton
How it makes money
Louis Vuitton makes money by selling its own products at full price through channels it controls: a global network of directly operated boutiques, flagship 'maisons' such as the new Beijing and Seoul stores, and its e-commerce site. It does not rely on department-store wholesale, so it keeps the retail margin and controls presentation, pricing and client data.
Growth strategy
Beccari's playbook is to keep LV's scale while making the experience feel more exclusive. Practical levers include larger 'cultural' flagships (Beijing and Seoul were singled out by LVMH for excellent performance in H1 2026), category extension into high jewelry, watches and beauty, celebrity-led menswear under Pharrell Williams since 2023, Nicolas Ghesquière's women's collections, and heritage moments such as the Mo…
Competitive advantage
Louis Vuitton's edge comes from 170 years of trunk-making heritage, one of the most recognised trademarks in fashion, and near-total control of its distribution and pricing. Because it sells through its own stores and avoids markdowns, customers see consistent prices worldwide, which supports resale values and brand trust.
Questions about Gucci vs Louis Vuitton
Which company has higher revenue — Guccio Gucci S.p.A. or Louis Vuitton Malletier SAS?
Guccio Gucci S.p.A. reported ~$6.8B (FY2025). A verified revenue figure for Louis Vuitton Malletier SAS was not available at the time of this comparison.
How do Guccio Gucci S.p.A. and Louis Vuitton Malletier SAS make money?
Guccio Gucci S.p.A. and Louis Vuitton Malletier SAS generate revenue in fundamentally different ways. Guccio Gucci S.p.A.: Gucci makes money mainly by selling its own products in its own stores. Louis Vuitton Malletier SAS: Louis Vuitton makes money by selling its own products at full price through channels it controls: a global network of directly operated boutiques, flagship 'maisons' such as the new Beijing and Seoul stores, and its e-commerce site.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Gucci vs Louis Vuitton overview