Gucci was the outstanding performer as luxury to sport and lifestyle giant Kering posted a +23.2% rise year-on-year in third-quarter revenue (+28.4% like-for-like) to €3,925.0 million.
Luxury activities rose +26.6% (+32.3% on a comparable basis). The most notable performances came from Gucci (up +49.4% on a comparable basis) and Yves Saint Laurent (+22.2%).
The sport & lifestyle business gained +11.9% (+15.9% comparable).
“Thanks to flawless execution of our strategies, at Group level as well as in each of our brands, we delivered another quarter of outstanding growth,” said Chairman and Chief Executive Officer François-Henri Pinault.
“The substantial increase of our Houses’ revenue over an extended period is a testimony to their enduring appeal, built on creative audacity and innovativeness. We will keep concentrating on organic growth, value creation and strict financial discipline. Facing unfavourable currency impacts and a tougher base of comparison, we remain fully confident in Kering’s ability to achieve a record year, fuelled by sector-leading growth.”
Kering said it had seen a well-balanced contribution from all regions.
Other luxury brands in couture, leathergoods and watches & jewellery posted double-digit increases, while Balenciaga saw “sharp acceleration”.
There was “sustained growth across all regions and through all distribution channels” in luxury with revenue up +36.8% for directly operated stores, Kering said.
Kering said it had seen a well-balanced contribution from all regions.
In luxury, stand-out performances came from Gucci (up +49.4% on a comparable basis) and Yves Saint Laurent (+22.2%). Other luxury brands in couture, leathergoods and watches & jewellery posted double-digit increases, while Balenciaga saw “sharp acceleration”.
There was “sustained growth across all regions and through all distribution channels” in luxury with revenue up +36.8% for directly operated stores, Kering said.
