Troubles at Gucci but Bottega grows strongly
22/04/2015
Kering CEO François-Henri Pinault said this reflected the transformation at the Italian brand – its chief executive and creative director departed last December.
He added: “Our priority is to give our flagship luxury brand fresh impetus and we are confident in the success of the action plans initiated by the new teams, both on a creative and organisational front. Thanks to the dedication of all our associates and to the tremendous potential of each of our brands, we pursue the implementation of our strategy while keeping a tight rein on costs. Consequently, we expect a gradual improvement in our performances throughout the year."
However, it was better news at leathergoods brand Bottega Veneta, which posted revenue growth of 16% as reported and 3% on a comparable basis in the first quarter of 2015. Sales were mainly driven by the momentum in Western Europe, where sales jumped 34% on a comparable basis.
Couture & Leather Goods comparable sales were up 16% in directly operated stores, buoyed by solid trends at Balenciaga and growth at Stella McCartney and Alexander McQueen.
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