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France headquartered luxury conglomerate Kering has confirmed a sustainable growth momentum for the Group, with third-quarter 2017 revenue of €3,925.0 million, up 23.2% as reported and 28.4% on a comparable basis.
On a reported basis, revenue for Kering’s luxury activities category increased 26.6%, while Sport & Lifestyle activities was up 11.9%. Gucci and Yves Saint Laurent are reported to have performed particularly well, +49.4% and +22.2% on a comparable basis respectively, with other luxury brands in the Leather, Couture and Watch segments scoring double-digit growth in the quarter. A sharp acceleration was observed at Balenciaga, and sustained growth was reported across all regions and through all distribution channels, with revenue up 36.8% for directly operated stores.
Sportswear brand Puma recorded another quarter of strong revenue, up +17.3% on a comparable basis, led by the brand’s excellent growth momentum in all product categories. Read more here.
“The substantial increase of our Houses’ revenue over an extended period is a testimony to their enduring appeal, built on creative audacity and innovativeness”, said François-Henri Pinault, Chairman and CEO, Kering. “We will keep concentrating on organic growth, value creation and strict financial discipline. Facing unfavorable currency impacts and a tougher base of comparison, we remain fully confident in Kering’s ability to achieve a record year, fueled by sector-leading growth.”