Kering, the luxury fashion house from France, has recorded a huge jump of 48.9 per cent in its revenue on an as-reported basis for the six months that ended 30 June 2021.
The surge was 53.3 per cent on a comparable basis to clock €7.7 billion.
The half-yearly consolidated revenue for the Kering Group was €8 billion. Now that’s a massive jump of 49.6 per cent on an as-reported basis and 54.1 per cent on a comparable basis.
Brand wise, Gucci’s revenue, during the period, rose by 50.3 per cent to €4.5 billion, whereas Saint Lauren saw its revenue grow by 58.2 per cent to post €1 billion. Besides, Bottega Veneta too saw an increase of 45 per cent to €707.6 million.
Kering’s other brands also saw impressive comparable increase of 72.7 per cent to €339.2 million.
Notably, the Group’s recurring operating income increased by 134.9 per cent to record €2.2 billion. The half-yearly e-commerce sales also rose by 78.5 per cent.
Kering has, reportedly, stated that its financial results, going forward, will depend on the impact of the pandemic across its portfolio. However, it added that considering the luxury market has rebounded well since the start of the year, Kering is perfectly positioned to fully benefit from the upturn.
The French Group founded in 1963 owns luxury brands Gucci, Yves Saint Laurent and Bottega Veneta. It generated €13.1 billion in 2019.