On top of Gucci, Kering speed up in the third quarter with Saint Laurent and Balenciaga, as revenues reach 3,4 billion euros. Bad news from Bottega Veneta

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In the same business range, annual revenues have been increasing, at fixed rates of exchange, by 27,5%: in 2018 third quarter, Kering’s incomes reached 3,4 billion euros, therefore going beyond the expectations of financial analysts. The outstanding success of the French giant has been driven by the accomplishments achieved in its core business: in fact, Luxury Houses (3,3 billion euros) have been simultaneously expanding by 27,2%. Gucci keeps being in a sensational shape, while Saint Laurent goes up by 16,1% (447 million euros), thanks to their achievements in double figures in all the business markets; as for Balenciaga, they have been driving the performance of the minor brands (their overall revenues amount to 516 million euros, that is, +32,2%). Looking into Kering’s financial report, the sore point is, once again, about Bottega Veneta (259 million euros), whose incomes decreased, from July to September, by 8,4%. While talking to journalists, Kering’s chief executive officer, François-Henry Pinault, “proudly presented and emphasized the accomplishments the group has been achieving quarter after quarter. Our growth pace proves to be unique in the business context”.

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