21 January, 2020 - 24 January, 2020
27 January, 2020 - 29 January, 2020
29 January, 2020 - 30 January, 2020
New York NY, U.S
01 February, 2020 - 03 February, 2020
04 February, 2020 - 07 February, 2020
Las Vegas, U.S.
French luxury conglomerate Kering has posted record results in the first quarter of 2017, across all activities and geographical regions.
The Group posted total consolidated revenue up 31.2% as reported (+28.6% on a comparable basis) in the first quarter of 2017. Revenue for its Luxury activities increased 34% (+31.6% on comparable), of which Gucci posted sales revenue up 51.4% (+48.3% comparable). The Sport & Lifestyle segment also scored positive results in the quarter, with total revenue up 16.5% as reported (+14% on comparable).
Revenue generated by Luxury activities totalled €2,417.1 million in the first quarter of 2017. Sales growth in the Group’s directly operated store network is said to have been particularly high, at 36.6% on a comparable basis, driven by remarkable performances in Western Europe and the Asia Pacific region, which reported retail sales increases on a comparable basis of 49.9% and 46.7%, respectively. Growth in retail sales is reported to have been significant in North America and the rest of the world, +29.7% and 28.1%, respectively, on a comparable basis. “Online sales leapt 60.1% on a comparable basis, underscoring the success of the digital strategies implemented by Kering’s Luxury Houses”, says the report. Wholesale revenue also grew 20.2% on a comparable basis.
In terms of brands, a sustained growth trajectory has been reported for Yves Saint Laurent (+35.4%), while positive trends were observed at Bottega Veneta (+4.7%) and Balenciaga had a ‘marked sales acceleration’ in the period, according to the Group. However, the most remarkable growth in the category was reported by Gucci whose revenue was up 51.4% as reported and 48.3% on a comparable basis, with all regions and product categories contributing to the overall rise. Sales in directly operated stores were up 51.4% on a comparable basis, with especially sharp increases in Western Europe (+66.4% on a comparable basis) and the Asia Pacific region (+63.1% on a comparable basis). “Gucci’s collections once again proved extremely popular during the period, with double-digit growth for all product categories and ever-increasing demand for Ready-to-Wear and shoes. Leather goods also experienced excellent momentum, reflecting Gucci's talent in creating iconic models and successfully renewing them season after season”, says Kering.
Performance in the Sports & Lifestyle activities is said to have been boosted by Puma, which reported record quarterly revenue of €1,008.9 million. All geographic regions except Japan are said to have registered double-digit sales growth and footwear was the leading product category, with sales up 24.8% on a comparable basis.