Italian luxury brand Gucci drives Kering H1 FY21 revenue up 53.3%

Fashion

Italian luxury brand Gucci drives Kering H1 FY21 revenue up 53.3%

30 Jul `21

2 min read

Gucci sales have jumped back to pre-pandemic levels in the first half (H1) of FY21 driving the revenue growth of Italian luxury group Kering up 53.3 per cent to €7,708.0 million against H1 FY20. Sales from directly operated stores accounted for around 80 per cent of the total revenue due to excellent momentum in North America and Asia-Pacific region.

Gucci sales have jumped back to pre-pandemic levels driving the first half (H1) sales of Italian luxury group Kering up 53.3 per cent to €7,708.0 million against H1 FY20. Sales from directly operated stores accounted for around 80 per cent of the total revenue in H1 FY21 due to excellent momentum in North America and Asia-Pacific region. #

“Kering delivered excellent performances in the first half and resumed its trajectory of strong, profitable growth. All our Houses contributed to a sharp rebound in total revenue, which comfortably exceeded its 2019 level, with a remarkable acceleration in the second quarter,” Francois-Henri Pinault, chairman and chief executive officer at Kering, said in a press release.

 

 

Sales of Gucci during the H1 FY21 surged 45.8 per cent to €4,479.3 million. Gucci’s directly operated store sales contributed 91 per cent of the group’s total revenue. However, in line with the brand’s strategy to transform its distribution which was implemented in early 2020, resulted in 9.6 per cent decline of wholesale revenues compared to H1 FY20.

 

Yves Saint Laurent's sales increased 53.3 per cent to €1,045.5 million against previous fiscal. Sales bounced back in all geographic regions, and particularly North America and Asia-Pacific, reflecting the ongoing success of both the House’s iconic lines and its new collections, the Italian group added.

 

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