The parent company of Gucci, SaintLaurent and BottegaVeneta said that all of its fashion and jewellery houses registered double-digit growth in the first three months of the year. Read more here. Kering KeringGroup
Revenue at the Italian house grew by 13.4 per cent in Q1 to €2.59 billion compared to the same period last year. Gucci’s sales have been swinging since the Q3 of 2021 where it rose 3.8 per cent due to the resurgence of the delta variant. But for Q4 2021, Gucci’s sales skyrocketed by 32 per cent. Analysts also described the brand’s growth to be decelerating.
At Saint Laurent, the fashion house posted the biggest jump among the other brands. Its sales went up about 37.2 per cent, beating predications of 24 per cent. Total sales was at €739 million. Jean-Marc Duplaix, Kering’s chief financial officer, attributed to the brand’s “clear strategy on merchandising and distribution” as key to its successful Q1. Furthermore, he also shared that “Saint Laurent is historically strong with local clients, and less reliant on tourist flows.