France : Kering luxury division revenue surges 7%

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Kering luxury division revenue surges 7%

24
Feb '14

François-Henri Pinault, Chairman and Chief Executive Officer, commented: "2013 was a pivotal year for Kering during which we completed our transformation, adopted a new identity and continued on our growth path by posting solid operating and financial performances.”

Highlights:

-Revenue up 4% on a comparable basis

- Sharp surge in Luxury Division revenue (+7% on a comparable basis), with record level of operating profitability

-Puma recovery underway

-Group transformation now complete

“These results were driven by good sales and profitability advances from the Luxury Division, which took full advantage of the complementarity of our brands and their growth momentum, notably in directly operated stores.

As we had anticipated, results are lower in the Sport & Lifestyle Division, amid major changes at Puma aimed at rebuilding the brand’s commercial momentum. With a coherent international group of strong brands enjoying considerable organic growth potential, we are well positioned to press ahead with our strategy. As a result, we are confident in our ability in 2014 to improve on last year's revenue and recurring operating income performances."

Kering

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