French luxury goods holding company and owner of brands like Alexander McQueen, Balenciaga, Brioni, Gucci, Puma, Saint Laurent Paris and more, Kering has revealed its results for the first quarter of 2016.
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In the period under consideration, Kering’s revenue totalled € 2,724 million, up 4 per cent on a comparable basis and 2.7 per cent as reported. Sales in the reporting quarter surged by 2.6 per cent on a comparable basis (up 2.8 per cent as reported). Boom in retail markets of Western Europe, Japan and emerging countries has helped drive growth at the company.
Kering-owned Gucci also confirmed its growth momentum in the first quarter of 2016. Its sales surged 3.1 per cent on a comparable basis and 2.9 per cent as reported. Revenue generated in directly operated stores rose 3 per cent.
Yves Saint Laurent, which has recently appointed Anthony Vaccarello as its new Creative Director, also performed well in the reporting period. However, Bottega Veneta’s first-quarter sales dropped 8.3 per cent on a comparable basis and by 7.6 per cent as reported.
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“Kering’s solid first-quarter 2016 performance in a challenging market environment bears testimony to our focus on driving organic growth. The new creative energy is maintained at Gucci and the brand’s new collections continue to draw an enthusiastic response. We are confident that we can extend our growth trajectory over the full year thanks to our multi-brand model, our continued strict operating and financial discipline, and the top-quality work of all our teams,” averred François-Henri Pinault, Chairman & CEO at Kering.
