ADVERTISEMENT
Luxury Goods

Kering revenue boosted by Gucci’s ‘spectacular growth’

Luxury goods group Kering has announced 36.5% revenue growth for the first quarter of 2018, driven by a 49% rise in revenues at Gucci.

Thanks to “favourable market conditions” Kering reported that its group revenues for Q1 totalled £2.72bn.

Kering attributed the growth to the group’s online sales which “more than doubled” during the period and the “spectacular growth” at Gucci where revenue reached £1.6bn.

Yves Saint Laurent also saw positive revenue growth, up 19.6% to £357m, propelled by surging revenue in North America (up 27%) and strong wholesale growth in Western Europe (32.3%).

Total revenue from its additional brands including Bottega Veneta, Balenciaga and Alexander McQueen amounted to £633.6m, up 40% on a comparable basis.

Chairman and CEO François-Henri Pinault said: “Kering maintained its outstanding sales momentum in the first quarter. Under its new Luxury pure player profile, the group clearly outperformed a market that remains well oriented. Gucci, Saint Laurent and Balenciaga set a high mark within a group that delivered sharp growth as a whole.

“In the balance of the year, we face a high base of comparison and a tough currency environment, but we are confident in the ability of our houses to continue doing better than their peers, leveraging their innovativeness and creative audacity.”  

Back to top button

Please disable your ad-blocker to continue

Ads are the primary way in which publishers generate the revenue needed to pay their staff. If we can't serve ads, we can't pay journalists to write the news.