French luxury group Kering posts moderate growth as Gucci falls short

Fashion

20 Oct `21

2 min read

Kering, a French luxury group, has reported a 12.2 per cent surge in sales to €4,187.8 million during the third quarter (Q3) of FY21 ended on September 30, 2021, over the same period of previous fiscal. Sales from Gucci brand moderately grew by 4.5 per cent to €2,181.8 million (Q3 FY20: €2,087.8 million) due to decline in footfall at APAC retail.

Kering, a French luxury group, has reported a 12.2 per cent surge in sales to €4,187.8 million during the third quarter (Q3) of FY21 ended on September 30, 2021, over the same period of previous fiscal. Sales from Gucci brand moderately grew by 4.5 per cent to €2,181.8 million (Q3 FY20: €2,087.8 million) due to decline in footfall at APAC retail.#

“On the back of an excellent first half, Kering achieved a very solid third quarter at group level, up double digits over 2019. Saint Laurent, Bottega Veneta and our Other Houses, as well as Kering Eyewear, all posted outstanding performances,” François-Henri Pinault, chairman and CEO at Kering, said in a press release.

Kering, a French luxury group, has reported a 12.2 per cent surge in sales to €4,187.8 million during the third quarter (Q3) of FY21 ended on September 30, 2021, over the same period of previous fiscal. Sales from Gucci brand moderately grew by 4.5 per cent to €2,181.8 million (Q3 FY20: €2,087.8 million) due to decline in footfall at APAC retail.#

“With the launch of its Aria collection, Gucci is set for an intense fourth quarter. In a constantly evolving Luxury market, we are strengthening the positioning and distribution of all our brands, providing them with the resources they need to be ever closer to their customers,” Pinault continued.

Kering, a French luxury group, has reported a 12.2 per cent surge in sales to €4,187.8 million during the third quarter (Q3) of FY21 ended on September 30, 2021, over the same period of previous fiscal. Sales from Gucci brand moderately grew by 4.5 per cent to €2,181.8 million (Q3 FY20: €2,087.8 million) due to decline in footfall at APAC retail.#

The group’s business levels were driven by very strong momentum in North America. On the other hand, sales continued to improve in markets like Western Europe and Japan which are still being affected by the absence of tourists. In Asia-Pacific, the sales were solid growth in the first half of the year, but reduced in Q3 with rising COVID-19 case numbers this summer.

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