Saint Laurent’s Greek operation increased net profit by nearly 20% in 2025, as lower merchandise costs outweighed a modest decline in sales and rising operating expenses.
The French luxury house’s business in Greece delivered stronger earnings despite softer revenue, with improved product margins helping offset a significant increase in administrative, selling and distribution costs.
Saint Laurent Greece reported revenue of €8.36 million for the year ended Dec. 31, down about 3% from €8.62 million in 2024, according to its annual financial statements. The weaker top line nevertheless translated into a stronger bottom line.
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Net profit rose 19.6% to €188,944 from €158,019 a year earlier, while pretax profit increased 18.6% to €263,103 from €221,907. Income-tax expense totaled €74,159.
The improvement came largely from a substantial reduction in the cost of goods sold, which fell to about €5.70 million from €6.41 million. The roughly €710,000 decline more than compensated for the approximately €260,000 drop in annual revenue and gave the Greek operation greater room to absorb higher expenses elsewhere in the business.
Those expenses rose considerably. Administrative costs increased to €1.13 million from €845,872, while selling and distribution expenses jumped to €1.33 million from €841,140.
The figures illustrate the contrasting forces facing Saint Laurent’s Greek operation during the year. Sales lost some momentum, while the cost of running and supporting the business increased. Yet a more favorable cost of goods sold allowed the company to generate greater earnings from a slightly smaller revenue base.
The results also offer a glimpse into the performance of an individual market for one of Europe’s best-known luxury labels. Saint Laurent, founded in Paris in 1961, is part of French luxury group Kering and operates in Greece through its local subsidiary. Greece represents a relatively small luxury market by European standards, but Athens and the country’s high-end tourism destinations have attracted increased attention from global fashion houses as international visitor spending has expanded.
Saint Laurent Greece finished 2025 with a stronger capital position and lower liabilities. Shareholders’ equity rose 27% to €888,951 from €700,007 at the end of 2024, broadly reflecting the addition of the year’s earnings.
Total assets declined to about €5.44 million from €6.22 million, while total liabilities fell to €4.55 million from €5.52 million. Cash and cash equivalents decreased to €1.36 million from €1.78 million.
The decline in liabilities, alongside higher equity, left the company with a stronger balance-sheet position at year-end even as its overall asset base contracted.
