Kering glories in Gucci growth of 35%
24/10/2018
Growth for Gucci was even higher at 35.1% and the Italian brand’s revenues for the quarter reached almost €2.1 billion. This means that, in the third quarter, Gucci accounted for more than 60% of group revenue.
In contrast, luxury leathergoods brand Bottega Veneta reported a decline in revenues of 7.8% to reach €259 million, but the group said there was “excellent momentum” at its other brands, including Balenciaga and Alexander McQueen.
Gucci’s growth is “particularly sound”, the group said on announcing the results, noting that the brand’s revenues were up by 41.9% in Asia, by 40.7% in North America and by 70% in the e-commerce segment.
On Bottega Veneta, it said the brand faces “ongoing transition”, but it said new products in its leathergoods category had performed well and that new creative director, Daniel Lee, is “remoulding the Bottega Veneta universe”. Mr Lee will make his debut in Tokyo in early December and present his first full collection for Bottega Veneta in February.
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