European luxury 'under pressure': Doubts over Gucci growth return in 2026 weigh on the sector

Brunello Cucinelli SpA

06/02/2026 10:17

** Shares in European luxury stocks fall, weighed by Kering PRTP.PA, as investors doubt flagship business Gucci's return-to-growth prospects for 2026 in next week's group FY 2025 update

** "Market feedback on a possible Gucci return to growth in 2026 is not encouraging, at least at this stage," says Bernstein analyst Luca Solca

** Shares in French giant Kering are down 2.9% to EUR 252, lowest price since September 2025

** "Turnaround stories like Kering, or smaller players are probably having higher beta to the market risks, in market's view," says Morningstar analyst Jelena Sokolova

** The analyst adds the entire sector is under pressure

** Italian peers Moncler MONC.MI, Salvatore Ferragamo SFER.MI and Brunello Cucinelli BCU.MI are also down between 2.2% and 2.8%

** French peers LVMH LVMH.PA and Hermes HRMS.PA trail losses, down between 1% and 0.6% respectively

** "LVMH appears to be more diversified and resilient," Sokolova says

 (Reporting by Dimitri Rhodes)

 ((dimitri.rhodes@thomsonreuters.com))