Leathergoods boost Kering in third quarter - leatherbiz: Leading news Leatherbiz

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Leathergoods boost Kering in third quarter

26/10/2017
Strong growth for the Gucci and Yves Saint Laurent brands, both of which use leather in a number of their products, helped luxury group Kering achieve revenue of €3.9 billion in the third quarter of 2017. This was an improvement of 23.2% compared to the same period of last year. 

The group’s luxury activities saw a 26.6% increase in revenue driven by 42.8% growth at Gucci and 17.7% growth at Yves Saint Laurent. It also saw double-digit growth for a number of its other luxury brands as well as “sharp acceleration” at Balenciaga. 

The news was not as positive for another of Kering’s luxury brands, Bottega Veneta, which saw its sales fall 4.5%. The group attributed this to the brand’s “ongoing transition”. It added that the brand’s revenue from leathergoods increased due to the success of new collections. 

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