Gucci backs Kering’s 2015 financial growth

Worldwide
Published:  23 February, 2016

Kering’s full year sales were up 15% in 2015, to €11.6 billion, exceeding analysts’ estimates of €11.4 billion.

Sales were up 8% for the Group and the growth has been much attributed to the Gucci brand whose revenue was up 4.8%; the brand’s strongest result in three years, under its new CEO, Marco Bizzarri, and new Creative Director, Alessandro Michele. Gucci accounts for nearly two-thirds of Kering’s revenue.

Yves Saint Laurent also performed well, with 27.4% revenue growth for Q4, compared to the same quarter in 2014. However, sales for Bottega Veneta, the leather handbag brand, dropped 3.1% in the fourth-quarter compared with the 3% growth predicted by analysts.

Total sales were up 14% in Japan compared with 2014, as the country has become a luxury shopping hub for Chinese consumers.

Operating profit at Kering was €1.65 billion for the full year.

Source: Bloomberg

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