Kering’s revenue jumps 18.8% to €7,638.4 mn in H1 2019

July 28, 2019 - France

Global luxury group Kering’s consolidated revenue jumped 18.8 per cent to €7,638.4 million and 15.3 per cent on a comparable basis in H1 2019, as compared to H1 of 2018. The recurring net income was up 24.7 per cent to €1,556.1 million, which nearly doubled in the space of two years showing a very sharp rise in profitability of the company.

The first half of 2019 was another period of outstanding growth for Gucci, with its revenue up 16.3 per cent on a comparable basis despite particularly high bases of comparison. Yves Saint Laurent delivered ongoing strong growth momentum with sales up 16.6 per cent on a comparable basis. For Bottega Veneta, sales were down 3.8 per cent on a comparable basis with a positive second quarter. Other Houses gave excellent performances with sales up 20.3 per cent on a comparable basis, powered by Balenciaga, Alexander McQueen and the Jewelry Houses, said a press release from Kering.

“In the first half of the year, we delivered another very strong set of results. Kering’s revenue growth handily topped market trends, and was highly profitable. We created an additional €1.2 billion in revenue in the six months, and our operating margin reached a record 29.5 per cent. Our strategy is clearly paying off. The success of our brands, built on creativity, innovation, and customer dedication, along with rigorous execution and financial discipline, are delivering a superior combination of organic growth and sustainable profitability,” said François-Henri Pinault, chairman and chief executive officer of Kering. (PC)