Kering, the French holding group which owns fashion brands like Alexander McQueen, Balenciaga, Brioni, Gucci, Puma, Volcom, Saint Laurent Paris, and other luxury, sport & lifestyle brands, has announced its financial results for the first quarter of the current fiscal year.
In the period under review, the company noted an increase in its consolidated revenue which surged 31.2 per cent as reported and 28.6 per cent on a comparable basis.
During the said period, luxury activities of the company zoomed 34.0 per cent as reported and 31.6 per cent on a comparable basis of which Gucci: up 51.4 per cent as reported and 48.3 per cent on a comparable basis; Sport & Lifestyle activities: up 16.5 per cent as reported and 14.0 per cent on a comparable basis
It’s major sequential increase driven by double-digit growth across all activities and all geographic regions excluding Japan. Puma’s revenue increased 17.9 per cent year on year as reported and 15.3 per cent on a comparable basis; all product categories contributing to the brand’s ongoing growth momentum.
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Sales growth in the Group’s directly operated store network was particularly high, at 36.6 per cent on a comparable basis, driven by remarkable performances in Western Europe and the Asia Pacific region, which reported retail sales increases on a comparable basis of 49.9 per cent and 46.7 per cent, respectively. Growth in retail sales was also significant in North America and the Rest of the world, up 29.7 per cent and 28.1 per cent, respectively, on a comparable basis. Online sales leapt 60.1 per cent on a comparable basis, underscoring the success of the digital strategies implemented by Kering’s Luxury Houses.
Gucci noted outstanding growth performance and Bottega Veneta noted improving trends while Yves Saint Laurent – Sustained robust growth during the review period.
