French luxury group Kering's Q1 FY21 sales grow 21% to €3,890 mn

21 Apr '21

2 min read

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Kering SA, a French global luxury group, has posted 21.4 per cent revenue growth to €3,890.0 million in its first quarter (Q1) FY21 ended on March 31, 2021, compared to the revenue of €3,203.2 million in the same period previous fiscal. The group’s online sales across regions continued to grow 108 per cent in the reported quarter.

“In the first quarter, Kering delivered a strong top-line performance, bouncing back above pre-pandemic levels. Growth was consistent across all our Houses, and we are particularly pleased with Gucci’s momentum as the brand kicks off its centennial celebration,” François-Henri Pinault, chairman and chief executive officer, said in a press release.

During Q1 FY21, Kering’s sales in North America increased 46 per cent, while Asia-Pacific sales jumped 83 per cent. However, sales performances in Western Europe plunged 34 per cent and Japan’s sales dipped 3 per cent. Rest of the world sales were up 24 per cent.

Gucci’s revenue for the quarter rose 20.2 per cent to €2,167.7 million (Q1 FY20: €1,804.1 million) with 78 per cent growth in Asia Pacific and 51 per cent rise in North America. Yves Saint Laurent revenue were up 18.9 per cent to €516.7 million (€434.6 million), while Bottega Veneta revenue increased 19.9 per cent to €328.2 million (€273.7 million). Other houses revenue improved 29.1 per cent to €714.3 million (€553.3 million).

“While 2021 should still face some impact from the health crisis, the strategy, positioning and creativity of our Houses will enable each one of them to thrive in today’s environment,” Pinault said.

Fibre2Fashion News Desk (JL)

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