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Kering reports "record" revenues in Q1

Luxury goods group Kering, formerly PPR, has reported “record” revenues in the first quarter of this year, up 3.1% to €2.4bn (£2bn).

The parent company of brands including Saint Laurent, Gucci and Puma said revenue for the Luxury Division advanced 6.4% compared to the same quarter the previous year while the Sport & Lifestyle Division reported a drop in revenue of 2.5%.

Sales in the Luxury Division rose across all key brands and all regions, with “very healthy”performances in North America and Japan.

François-Henri Pinault, Kering chairman and chief executive officer said: “Kering’s sales activities since the beginning of 2013 have been powered by our Luxury Division, which has continued to make headways in all regions of the world.

“In Fashion and Leather Goods, our robust performance above and beyond the very high base of comparison established last year confirms the tremendous appeal of our brands. In a jumpier environment, notably in Europe, sales of our Sport & Lifestyle Division contracted somewhat in the first months of the year.”

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