The Kering Group delivers another quarter of high growth in consolidated revenue

The Kering Group delivers another quarter of high growth in consolidated revenue

The Kering Group said that it delivered another quarter of high growth in consolidated revenue, up 14.2 percent as reported and 11.6 percent on a comparable group structure and exchange rate basis to 3,884.6 million euros (3,202.2 million dollars). 

“We achieved another strong quarter, and all our segments contributed to our solid top-line gain. Our progress, on top of considerable expansion in the past two years, is healthy and well balanced across all Houses. We are consolidating our growth trajectory, and carrying out continuous, targeted operating investments,” said François-Henri Pinault, Chairman and Chief Executive Officer of Kering in a statement.

-Gucci delivered very healthy growth in the quarter, with revenue up 13.3% as reported and 10.7% on a comparable basis to €2,374.7 million, once again on top of particularly high bases of comparison. All of the main product categories contributed to this growth, demonstrating the enduring success of the House’s collections. Growth in sales from directly operated stores (up 10.7% on a comparable basis) was led by Asia- Pacific (up 17.9% on a comparable basis) and Western Europe (up 11.9% on a comparable basis). Wholesale rose 9.8% on a comparable basis. 

-Yves Saint Laurent pursued its double-digit growth in the quarter, with revenue up 13.3% as reported and 10.8% on a comparable basis to €506.5 million. Growth was balanced across distribution channels, with an 11.4% rise in comparable sales from directly operated stores driven by all of the House’s geographic regions, and an 8.2% increase from wholesale. 

-Bottega Veneta saw highly encouraging growth during the third quarter, with sales up 9.8% as reported and 6.9% on a comparable basis to €284.3 million. Daniel Lee’s collections were extremely well received, by established and new customers alike. Sales from directly operated stores rose 7.5% on a comparable basis, with sharp growth in Western Europe (up 10.1% comparable) and North America (up 17.1% comparable). Wholesale continued to grow, up 4.1% comparable. 

-Sales from Couture and Leather Goods continued to rise sharply, fueled in particular by the strong sales momentum at Balenciaga and Alexander McQueen. Jewelry delivered solid growth, with a very good quarter at Boucheron and strong performances from Pomellato and DoDo, while Qeelin pursued its successful expansion in Mainland China. Watches posted an encouraging performance, lifted by the launch of new models by Ulysse Nardin.