Bottega Veneta growing in importance for Kering as luxury sales rise
The heads of leathergoods brand Bottega Veneta and Saint Laurent have been appointed to Kering’s executive committee, as the group reports 15% revenue growth in the first nine months.
Kering said their appointments illustrate the increasing role of these companies in the group’s growth, and they will join the CEOs of Gucci and Puma as well as senior Kering figures on the committee.
Kering posted revenues of €2.9 billion in the third quarter of 2015, up 12% on the third quarter of 2014.
Sales at Bottega Veneta rose 13.2% as reported and 4.3% on a comparable basis in the third quarter of 2015.
François-Henri Pinault, Kering's chairman, said: "In a volatile macroeconomic and monetary environment characterised by sharp contrasts across regions, our well-balanced economic model and brand portfolio enabled our luxury activities to deliver healthy performances, powered notably by the momentum in directly operated stores and by a surge in tourist shoppers in Western Europe and Japan.
“I look ahead to the final three months of the year with confidence in our brands' development potential and in the group's ability to maintain its growth trajectory."
