Kering powers its way to 16% growth Luxury group
Kering has reported full-year revenues of €15.9 billion for 2019, an increase of 16.2% compared to the previous year.
Commenting on the figures, chief executive, François-Henri Pinault, said: “We are focused on developing our brands, on executing flawlessly and on creating value.”
He added that the “uncertain conditions” China faces at the moment will not alter the position of Kering in the luxury industry. “Thanks to the strength of our model, the talent and dedication of our 38,000 people sharing a culture of creativity and responsibility, and to our disciplined financial stewardship, we are confident in our growth potential in the medium and long term,” he said.
Among its brands, Kering said, without publishing revenue figures for them, that it was pleased with the performance in 2019 of Gucci, which achieved growth of 13.3%, and Saint Laurent, which grew by 14.4%. It also celebrated a return to growth for Bottega Veneta, which increased its revenues by 2.2% owing to the success of its latest collections.
Its other brands grew their combined revenues by 17.8%; it singled out Balenciaga and Alexander McQueen among these for their particularly strong momentum.
