It’s not just Gucci (+37,9%), as YSL and Balenciaga also drive Kering’s great performance. Bad news from Bottega Veneta though

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Amazing figures indeed. In 2018 first quarter Gucci’s overall turnover reached 1,8 billion euros, thus increasing by 37,9% on annual basis. The fashion brand, led by Michele and Bizzarri, has been going up in double figures in all the markets: +64,4% in North America, +49,4% in the Pacific Asian area, +44% in Europe. Yet Kering’s great performance (the group’s revenues have increased by 27,1% in the period) has not been driven only by Gucci, their flagship brand. François-Henri Pinault, who is the leader of the group, stated, in his release, that he is very happy about the positive effects of the focus strategy in the luxury segment. On the other hand, an additional key word is proportion, that is, stability given by accomplishments achieved in the business channels (in double digits in retail, wholesale and digital) as well as in the geographical areas. Not to mention performances achieved by each single brand. In the quarter Saint Laurent went up by 12% (thus earning 408,2 million euros), while the Other Brands segment (including Balenciaga and Alexander McQueen) increased by 31%. Bad news from Bottega Veneta, whose turnover (which amounts to 261,2 million euros) has been consistently dropping (-6,8%).

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