Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Gucci lifts Kering's third-quarter revenues

Kering has reported a 27.6% boost in third-quarter revenues to £3bn (€3.4bn) on the back of stellar performance by Gucci.

Sales at Gucci rose by more than one-third (35.1%) to £1.85bn (€2bn) in the three months to 30 September. Yves Saint Laurent was up 16.1% for the quarter with revenues of £394.4m (€447m).

Bottega Veneta revenue was €259m (£228m), down 7.8% on 2017. Kering attributed the fall to an ongoing transition of the brand. New creative director Daniel Lee expected to debut his first full collection in February 2019.

Group like-for-like sales in directly operated stores were up 27.6%, driven by double-digit increases across all regions, led by North America (up 36.1%) and Asia Pacific (up 33.3%). Growth in group online sales exceeded 80%, while wholesale revenues rose 27% on a comparable basis.

Kering said that Balenciaga delivered “another period of particularly noteworthy, well-balanced growth” while revenue growth at Alexander McQueen continued ”unabated”.

François-Henri Pinault, chairman and chief executive officer of Kering said: “We are extraordinarily proud of the remarkable performances Kering delivers quarter after quarter. Our growth, whose pace is unprecedented in the luxury sector, is sound, well balanced and sustained across all regions and distribution channels.

“The talent of each of our houses at creating strong emotional ties with its customers, conceiving a bold, generous creative universe, and reinventing its codes, is at the root of Kering’s success.

“Beyond short-term developments, we know that the [sector] growth of the luxury market, but particularly our solid fundamentals and the discipline with which we implement our strategy, will continue to support our operating and financial outperformance.”

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.