Gucci Owner Kering Launches Major Global Media Review as Luxury Market Softens
A sudden shift has caught ad agencies off guard. Big changes are unfolding at Kering, the French firm that owns Gucci. This time, it’s about how ads get made worldwide. The process is now live across markets. Reaction has been swift from media firms watching closely. What happens next could reshape partnerships. Details remain tight, but signals point to major shifts ahead.
Who gets picked could hinge on a single intense presentation, shaping control over ad spending across Kering’s top fashion labels. Not just Gucci but also Saint Laurent takes part in what amounts to a major shift behind the scenes. Big names such as Balenciaga join in, their campaigns tied to the outcome. Power players including Bottega Veneta watch closely – moves here ripple through luxury circles. Even Alexander McQueen and Brioni feel the weight of this decision unfolding quietly beneath the surface. This shift shakes up how things work across the field, hits the established firm right where it counts, while reshaping money moves in high-end markets all at once.
The Stakes Hundreds of Millions on the Table
Backed by figures from industry analyst COMvergence, Kering spent nearly $320 million worldwide on advertising in 2025. Even though forecasts suggest a small dip – closer to $293 million next year – the brand’s campaign still draws fierce interest across top creative circles. Though numbers may ease, influence doesn’t always follow the same path.
Can iProspect Keep Its Lead?
A major challenge looms for Dentsu’s iProspect, now holding the account. This position puts them squarely in the line of fire as others approach. Back in late 2021, iProspect took over after a tough four-month race – beating out Publicis Groupe’s Zenith in the process. A win like that didn’t just shift momentum; it reshaped what people expected from iProspect moving forward. Once known mainly for search and digital results, they began showing up differently on the world stage. Suddenly, they weren’t just another player – they were building something broader, deeper, capable.
Even though iProspect now works with more luxury brands – like Tapestry, which owns Coach and Kate Spade – keeping Kering might depend on showing they handle tough market shifts well. Still, staying ahead isn’t just about new clients.
Why Now? Rebuilding a Luxury Empire
Right now feels like no accident. Luxury’s wider slowdown after the pandemic runs deep, yet Kering takes sharper blows from changing buyer choices – shifts that sting most in key zones across Asia. Down went Kering’s pre-tax earnings – only €453 million in 2025, a sharp fall from €1.6 billion the year before. That marks a 71 percent drop compared with last year’s numbers.
Now steering differently, Kering’s leaders launched a long-term plan – Reset, Rebuild, Reclaim – to steady finances while sharpening brand prestige. Within this approach lies:
Some shops are getting smaller while others shut down completely. A third of those outlets vanish without warning.
Bold moves to reshape how people see a brand – take Gucci, jumping into multiple seasons tied to Alpine’s Formula One campaign. Instead of quiet tweaks, it went all in with high-visibility steps that shift attention fast.
Out front, sharp data skills matter most. Moving fast online comes next. Hitting exact audiences makes the difference. To boost slow areas, results must show up clearly. Safeguarding how people see the brand sits at the core. Getting things done without waste opens doors. A fresh ally in media steps into that space. A spokesperson for Dentsu turned down interview questions about the ongoing assessment. So far, Kering remains silent despite repeated attempts to reach them.
Who is Kering?
Paris hosts Kering, a worldwide luxury player shaping brands like Gucci, Saint Laurent, and Bottega Veneta across fashion, leather goods, jewelry. Balenciaga moves under its guidance too, along with Alexander McQueen, plus Brioni stands within the circle. Growth flows through each House tied to its name.
