Sales at the French group, which also owns fashion brands Bottega Veneta and Balenciaga and jeweller Boucheron, fell to 4.97 billion euros ($5.36 billion) in the final three months of the year, despite improvement in the United States and Europe.
Kering's recent announcement of the deal to acquire a 30 per cent share in Valentino has raised eyebrows among investors, especially due to the hefty valuation of Valentino at over 5 billion euros.