On a comparable basis, Kering said it recorded a “very strong quarter” at Gucci, with revenue up 10.7%, and “very solid sales growth” at Yves Saint Laurent (+ 10.8%), driven by all regions. Sales at Bottega Veneta were up 6.9% and “very strong progress” was registered at Kering’s Other Houses (+16.3%), powered by Balenciaga and Alexander McQueen. Robust growth of Watches and Jewellery was also noted.

“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”, said François-Henri Pinault, Chairman and CEO. “We are consolidating our growth trajectory and carrying out continuous, targeted operating investments. We live in an increasingly complex world, but we are fully confident in our capacity to deliver sustained performances over time.”