Deutsche Bank: Opening Ceremony Group brings comfort, Gucci's recovery is still ongoing.

Adam Cochrane of Deutsche Bank, in a research report, stated that with the core brand Gucci gaining momentum, the situation at Kering Group is reassuring. The analyst noted that the French luxury goods conglomerate's performance at the end of 2025 was slightly better than expected, and provided a credible mid-term outlook, expecting the EBIT margin to rise to over 20%. He mentioned that the company may announce a detailed brand-specific strategy in April, when it will hold a capital markets day event. "There is some uncertainty about the timing of a broader market recovery, but there are signs that Gucci's brand appeal is starting to rebound," Cochrane said. The stock price fell by 0.9%, to 285.40 euros.