Home / Knowledge / News / Fashion / Kering revenue up 14.2% to €3.884 billion in Q3 2019

Kering revenue up 14.2% to €3.884 billion in Q3 2019

30
Oct '19
Pic: Kering
Pic: Kering
Global luxury group Kering has delivered another quarter of high growth in consolidated revenue in the third quarter of 2019, up 14.2 per cent as reported, and up 11.6 per cent on a comparable Group structure and exchange rate basis, to €3,884.6 million. Online sales climbed 20.1 per cent, while wholesale growth was up 8.7 per cent comparable.

Growth in total revenue of Kering’s Houses (up 11.3 per cent on a comparable basis) was particularly well balanced and fuelled by sales in the directly operated store network (up 12 per cent on a comparable basis). "This strong upward trend was driven by Asia-Pacific (up 16.6 per cent on a comparable basis), Western Europe (up 12.2 per cent on a comparable basis) and Japan (up 11.9 per cent on a comparable basis)," Kering said in a statement.

“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. 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,” said François-Henri Pinault, chairman and chief executive officer of Kering.

Gucci delivered very healthy growth in the quarter, with revenue up 13.3 per cent as reported and 10.7 per cent on a comparable basis to €2,374.7 million, once again on top of particularly high bases of comparison. All of the main product categories contributed to this growth, demonstrating the enduring success of the House’s collections. Growth in sales from directly operated stores (up 10.7 per cent on a comparable basis) was led by Asia-Pacific (up 17.9 per cent on a comparable basis) and Western Europe (up 11.9 per cent on a comparable basis). Wholesale rose 9.8 per cent on a comparable basis.

Yves Saint Laurent pursued its double-digit growth in the quarter, with revenue up 13.3 per cent as reported and 10.8 per cent on a comparable basis to €506.5 million. Growth was balanced across distribution channels, with an 11.4 per cent rise in comparable sales from directly operated stores driven by all of the House’s geographic regions, and an 8.2 per cent increase from wholesale.

Bottega Veneta saw highly encouraging growth during the third quarter, with sales up 9.8 per cent as reported and 6.9 per cent on a comparable basis to €284.3 million. Daniel Lee’s collections were extremely well received, by established and new customers alike. Sales from directly operated stores rose 7.5 per cent on a comparable basis, with sharp growth in Western Europe (up 10.1 per cent comparable) and North America (up 17.1 per cent comparable). Wholesale continued to grow, up 4.1 per cent comparable.

Revenue from Kering’s Other Houses totaled €612.3 million in the third quarter, up 18.6 per cent as reported and 16.3 per cent on a comparable basis.

Fibre2Fashion News Desk (RKS)


Must ReadView All

Pic: Shutterstock

Textiles | On 23rd Oct 2020

Research key as Africa moves towards AfCFTA: ECA

Research and interaction between researchers and policymakers is...

Pic: Shutterstock

Retail | On 23rd Oct 2020

Flipkart Group, ABFRL enter into strategic partnership

The Flipkart Group and Aditya Birla Fashion and Retail Limited...

Pic: Renewcell

Textiles | On 23rd Oct 2020

Renewcell & Tangshan Sanyou to produce recycled fibres

Swedish fashion recycling innovator Renewcell has reached an...

Interviews View All

Representatives, Textile & apparel industry

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Top executives, Textile industry, India

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Yash Maniyar, Rekha Maniyar

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Pratik Agarwal,

Pratik Agarwal

Breya is a brand of Indo-Western clothes for women owned by ABP Apparels...

Roz Guarnori,

Roz Guarnori

FESPA Global Print Expo 2019, to be held in Munich from May 14-17, is...

Ismail Ajani,

Ismail Ajani

Hollywood Footwear’s story began in 1946 when Jummabhai Ajani started the...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Johan Berlin, Investkonsult Sweden AB

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search