Home / Knowledge / News / Results/Reports / Kering's Q3 FY20 sales down 4.3% to €3,718 mn

Kering's Q3 FY20 sales down 4.3% to €3,718 mn

23
Oct '20
Pic: Shutterstock
Pic: Shutterstock
Kering SA, a French global luxury group, posted 4.3 per cent revenue decline to €3,717.7 million in its third quarter (Q3) fiscal 2020 ended on September 30, compared to the revenue of €3,884.6 million in the same period previous year. Group’s online sales continued to grow with 101.9 per cent in the third quarter, led by North America and Asia-Pacific.
 
“In a tough environment, Kering achieved substantial revenue recovery in the third quarter. The creativity of each of our Houses and the agility of our organisation led to a sharp rebound in sales, nearly matching the level of the 2019 third quarter,” François-Henri Pinault, chairman and chief executive officer, said in a press release.
 
Sales in North America increased 44.1 per cent, driven by a rebound in local demand, and Asia-Pacific grew 18.5 per cent, fuelled by excellent momentum in Mainland China. However, sales performances in Western Europe plunged 41.0 per cent and Japan came down 22.8 per cent severely hampered by the halt in tourism.
 
Gucci’s revenue during the quarter slipped 12.1 per cent to €2,087.8 million (Q3 FY19: €2,374.7 million). Gucci had an excellent quarter in North America up 43.7 per cent and delivered a solid performance in Asia-Pacific up 10.6 per cent.
 
Yves Saint Laurent revenue rose 0.8 per cent to €510.7 million (€506.5 million). In addition to its strong appeal among local customers in Europe and North America, Yves Saint Laurent’s market penetration grew in Asia-Pacific.
 
Bottega Veneta’s revenue jumped 17.0 per cent to €332.5 million (€284.3 million). While other houses revenue increased 10.1 per cent to €117.6 million (€106.8 million).
 
“We are pursuing with determination the implementation of our strategic initiatives - the internalisation of our e-commerce activities reached other key milestones and we continue bolstering our growth platforms,” Pinault said. “Against a backdrop that remains uncertain, and despite limited visibility, we are well prepared and confident in our ability to deliver good performances over time.”

Fibre2Fashion News Desk (JL)


Must ReadView All

Pic: Shutterstock

Textiles | On 8th Mar 2021

Vietnam-UK FTA triggers two-way trade

After a month of Vietnam signing a free trade agreement (FTA) with...

Pic: Shutterstock

Retail | On 8th Mar 2021

2021 may see record retail sales in US, economy hinges on virus: NRF

A wide array of economic indicators point toward potentially record...

Pic: Lund University

Textiles | On 8th Mar 2021

Swedish scientists convert cotton into sugar, to make textiles

In a major step towards recycling, scientists at Sweden’s Lund...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Money never disappears-it just finds new opportunities

Textile Industry, Head honchos

Textile Industry
Head honchos

Main challenges are breakdown of supply chain and shrinkage of manpower

Textile Industry, Head honchos

Textile Industry
Head honchos

Fashion tech has to be lean and very productive

Siddhant Sinha,

Siddhant Sinha

Set up by Pradeep Sinha, a graduate engineer from Manipal Institute of...

Anupam Chakrabarty,

Anupam Chakrabarty

Headquartered in Finland, Helsinki, Lindström Group is a textile rental...

Sandra Sequeira,

Sandra Sequeira

The JD Institute of Fashion Technology is the educational division of JD...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

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

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

<span style="font-size: 12px;">Designer <b>Suman Nathwani</b> talks about...

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


March 2021

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


Advanced Search