Gucci keeps speeding up, as biannual revenues go up by 40% (+26,8% for Kering)

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Kering’s biannual incomes have been enjoying a considerable boost thanks to Gucci’s performance. In fact, in the first six months of the year, the group’s turnover has been increasing by 26,8%, reaching 6,43 billion euros. Such outstanding results have been mostly driven by record accomplishments achieved by the Tuscan fashion house, whose revenues went up by 40% in the second quarter, following a +49% boost in the first one. Such growth led earnings up to 1,77 billion euros, therefore enabling Kering to outdo its competitors, namely LVMH and Hermès, despite the fact that their fashion and leather goods units did pretty well indeed, +16% and +11,2% respectively. Following the positive business trend of the fashion brand, led by Bizzarri&Michele team, Saint Laurent carried out a good performance as well, as sales increased by 19,7%; conversely, Bottega Veneta has been slightly slowing down (-0,9%). “Kering has been achieving amazing accomplishments over the last six months – remarked François-Henri Pinault, president and managing director of the group -. Our expansion, based on the exclusivity and the appeal of our brands, is outstandingly sound. The development model we implement through our brands naturally enhances our value making and drives, at the same time, a profitable, remarkable and consistent growth. Although clients we deal with are more and more demanding, along with global instability, we are going to improve, once again, our financial and operating performance in 2018”.

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