French luxury goods group Kering has said it expects a record year after achieving double-digit sales growth in its third-quarter thanks to a strong performance from Gucci.
In the three months to the end of September, revenues climbed 23.2% to EUR3.93bn (US$4.63bn) on a reported basis, and 28.4% on a comparable basis.
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Kering cited a well-balanced contribution from all regions and particularly strong sales from Gucci, which soared 49.4%. Yves Saint Laurent sales grew 22.2% on a comparable basis).
Sport and lifestyle also had a robust quarter, with revenues up 15.9% on a comparable basis and across all regions. Puma, meanwhile, saw sales grow 17.3% led by the brand’s excellent growth momentum in all product categories.
“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 CEO François-Henri Pinault. “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.”
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By GlobalData
