Kering, the renowned French luxury fashion group, has witnessed a jump in its Q1 revenue.
What’s notable is that the surge is equivalent to what the retailer enjoyed during its pre-Covid days. Numbers distinctly indicate that!
The Group consolidated revenue rose by an impressive 21 per cent on an as-reported basis during the quarter, while that on a comparable basis jumped by 25.8 per cent to US $ 3.35 billion.
Now, comparing with Q1 of 2019, this revenue jump has been 5.5 per cent on constant-currency basis.
Regionwise, sales performance was best in Asia-Pacific (83 per cent jump) followed by North America (46 per cent jump).
Talking of brands, Gucci sales rose by 21.6 per cent from Q1 of 2020, while Saint Laurent sales jumped by 20.2 per cent.
Bottega Veneta too had a good first quarter with a sales increase of 19.9 per cent.
The Group’s comparable revenue surged by a good 31.8 per cent, compared to Q1 of 2020 and by 6.3 per cent from what it was in the first quarter of 2019.
Digitally too, the quarter has been more than good for Kering – witnessing a growth of 108 per cent.
Kering, founded in 1963, generated €13.1 billion in 2019.