Gucci’s 9-month-turnover goes beyond 2016, YSL speeds up, Bottega Veneta does so-so; Kering’s quarterly sales are booming again

It’s a simple question: what are they aiming at? Such obvious inquiry can’t be helped as we glance through Kering’s quarterly financial statement and Gucci’s, their own brand, as well. Revenues coming from sales, carried out by the French giant, currently amount to 3,9 billion euros, that is +28,4%, thus beating out Reuters estimated figures, 3,7 billion euros. Such awesome performance is driven by Gucci, which is considered to be, at this point, sort of a top luxury bulldozer being worshipped, somehow in a contradictory way, by Millennials worldwide: incomes got to 1,55 billion euros over the last three months, nearly +50% (for the records +49,5%), as single brandings turnover goes up to +51% and wholesale performance is not brilliant alike (so to speak…): +44%. In the first nine months of the year Gucci’s performance is simply amazing: sales have been increasing by 45,5% as turnover goes beyond the whole 2016, going up to 4,4 billion euros. Interestingly Gucci is expanding all over the world with double-digit incomes, though top profits come from sales online (today, as reported in another newsletter, they start off a DIY service for sneakers on Mytheresa.com): they are actually booming with “triple-digit” incomes, as pointed out by Kering in a press release. Yves Saint Laurent’s quarterly turnover increases by 22,2%, as they gain nearly 384 million euros thanks to “accessories, whose performance keeps up”. The only sore point is about Bottega Veneta, whose turnover at the end of the third quarter amounts to 280,7 million euros, that is merely +0,9%. That gives evidence that the brand is “actually moving” towards a new dimension, says Kering.

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