Kering revenues soar 28 per cent, fuelled by Asia-Pacific
Luxury brand and sportswear retailer Kering has reported first-half consolidated revenue up 28.2 per cent to €7.296 billion.
Kering revenues in Asia-Pacific, (excluding Japan), soared 34.4 per cent and that market now accounts for 28 per cent of the group’s total sales. Japanese sales rose 20.7 per cent.
Sales in its luxury division rose 29.7 per cent (28.3 per cent on a comparable basis) and in the sports and lifestyle arm – largely Puma – by 16.1 per cent (14.3 per cent).
Recurring operating income of €1.27 billion was up 57.1 per cent.
“Thanks to the execution of our strategy, we achieved outstanding revenue growth in the first half, clearly outperforming the sector, and delivered record profits and operating margins,” said chairman and CEO François-Henri Pinault.
“These remarkable performances in all regions of the world and across all of our activities underscore Kering’s ability to innovate, create value, and gain market share. Our vision of luxury, grounded in creative audacity and in the sincerity of our brands’ values, is more relevant than ever.”
A global luxury group, Kering owns a diverse portfoilo of luxury brands, including Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, Pomellato, Qeelin and Ulysse Nardin. In the sports and lifestyle sector, it owns Puma, Volcom and Cobra.