Kering adds to string of strong H1 results
26/07/2018
Kering achieved revenue of more than €6.4 billion in the six-month period, an increase of 26.8% compared to the same period in 2017. And profits, at almost €1.8 billion, registered an increase of more than 50%.
Chief executive, François-Henri Pinault, said: “Our growth, grounded in the exclusivity and desirability of our brands, is remarkably healthy. While facing increasingly demanding competition and an uncertain global environment, we will once again substantially enhance our financial and operating performances in 2018.”
Gucci continued its recent pattern of positive results by achieving revenue growth of 44.1%, while sales at Yves Saint Laurent were up by 19.7%. At Bottega Veneta, however, sales for the six-month period were down by 0.9%.
Collectively, its other brands increased revenues by 36.5% and Kering singled out Balenciaga for “an excellent sales rise” and Alexander McQueen for its “faster pace of growth”.
In terms of geographical markets, there were increases of 45.4% in North America, of 25.1% in Europe, of 37.6% in Asia (excluding Japan) and of 30.7% in Japan.
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