Gucci leads increase in revenue at Kering
01/08/2016
"We are pleased with the performances we have delivered in the first half of 2016,” said François-Henri Pinault, Kering chairman and CEO.
Revenue was up in both the luxury activities (+5.2%) and sports and lifestyle activities (+11.4%) sectors in the second quarter.
Gucci led the way in the luxury sector, recording a 7.4% increase in sales to €1.05 billion. Kering said this was down to a “new creative impetus”. Sales of Gucci products rebounded in “emerging markets” and there was also an increase in Western Europe.
Sales at Yves Saint Laurent grew 22.1% during Q2 but Bottega Veneta saw a 9.8% drop in sales, compounding the 8.3% decrease in the first quarter of the year. Kering said that the brand, for which Asian buyers are a key driver, was “heavily weighed down by lower tourism flows in Western Europe”.
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