Home / Knowledge / News / Results/Reports / Kering reports revenues of €5,378 mn in H1 FY20

Kering reports revenues of €5,378 mn in H1 FY20

29
Jul '20
Pic: Shutterstock
Pic: Shutterstock
Kering SA, a French global luxury group, has announced its half year (H1) results for fiscal 2020 ended on June 30, 2020. Revenues for the period fell 29.6 per cent to €5,378.3 million compared to the revenue of €7,638.4 million in same period last year. Company’s net income for H1 FY20 slipped 53 per cent to €272.6 million (H1 FY19: €579.7 million). 
 
“It is fair to say that the first half of 2020 has been the toughest period we have faced, we stand in solidarity with all who are suffering through this situation and acknowledge the remarkable contribution of all our associates. Our results today underscore the extent of the disruption exacted by the pandemic on our operations,” François-Henri Pinault, chairman and chief executive officer at Kering, said in a press release.
 
Recurring operating income during the first half dropped 57.7 per cent to €952.4 million (€2,252.7 million). EBITDA were down 40.4 per cent to €1,675.0 million (€2,809.3 million).
 
Revenue of Gucci fell 33.5 per cent to €3,072.2 million (€4,617.1 million). As stores reopened, the House regained a favourable momentum with local customers in its main markets. Online sales performed particularly well in the first half, up 51.8 per cent.
 
Yves Saint Laurent achieved revenue of €681.1 million (€973.0 million) down 30.0 per cent. Bottega Veneta’s revenue fell 8.4 per cent to €503.1 million (€549.0 million). While other houses reported revenue decline of 25 per cent to €919.1 million (€1,225.3 million).
 
“We entered 2020 in a particularly solid position, our global scale, the desirability and agility of our brands, and our values of sustainability and responsibility, all are key assets in weathering current conditions. Our strategic vision is only reinforced by the crisis and, with the benefit of our sound financials, innovativeness and digital expertise, we are pursuing its implementation with consistency and determination,” Pinault said.

Fibre2Fashion News Desk (JL)


Must ReadView All

Pic: GOV.UK

E-commerce | On 24th Feb 2021

UK welcomes European Commission's draft data adequacy

The UK government has welcomed the European Commission's draft data...

Pic: Shutterstock

Textiles | On 24th Feb 2021

SACTWU welcomes textiles rebate announced by S African govt

The Southern African Clothing & Textile Workers' Union (SACTWU)...

Pic: Shutterstock

E-commerce | On 24th Feb 2021

Asos relaunches Topshop online after acquiring it for £295

Asos recently relaunched Topshop on its website after acquiring the...

Interviews View All

Top executives, Machinery Company

Top executives
Machinery Company

We will promote latest technologies at ITMA Barcelona

Akash Khetan, Narayan Tex Fab

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Top executives, Textile industry

Top executives
Textile industry

Sustainable fashion is also ‘slow fashion’

Franco Ravazzi,

Franco Ravazzi

Italy-based Tessimenti E Orditi Tinti (T.O.T SRL) specialises in stocking...

Umang Banthia,

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Francesca Polato,

Francesca Polato

Berto Industria Tessile was founded in Bovolenta, a small town in the...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Shlomzion Chen, Seevix

Shlomzion Chen
Seevix

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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


February 2021

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


Advanced Search