Gucci, Balenciaga and Bottega Veneta Achieve Modest Growth for Q3
Kering Group's revenue for third quarter amounted to ?4.18 billion.
The post Gucci, Balenciaga and Bottega Veneta Achieve Modest Growth for Q3 appeared first on LUXUO.
Image: Gucci
French luxury group Kering has released its Q3 financial results on October 19 and its revenue for this quarter amounted to ?4.18 billion.
This represents a 12.2 per cent increase on a comparable basis relative to the same period in 2020. When compared to 2019, which is a more reliable indicator, the rise is at 10 per cent. In the months leading up to September 30, the Group?s sales were up 36.6 per cent when benchmarked against figures in 2020 and only nine per cent when compared to 2019.
According to the press release by Kering, the luxury house mentioned its strong growth was attributed to the ?very strong momentum in North America.? In the other key regions like Western Europe and Asia-Pacific, the markets were affected by the rising Covid-19 cases during the summer. Despite the sluggish growth, performance in those markets continued to show promising results.
View this post on Instagram A post shared by Gucci Official (@gucci)
READ MORE: Kering CEO Announces Company-Wide Ban on Fur
The Group?s cash cow still remains to be Gucci as the brand raked in ?2.8 billion from ?2.08 billion in the previous year quarter. Despite being the crown jewel, the Italian brand?s performance was not enough to meet analyst expectations of a 9.1 per cent growth, it managed to...
The post Gucci, Balenciaga and Bottega Veneta Achieve Modest Growth for Q3 appeared first on LUXUO.
Image: Gucci
French luxury group Kering has released its Q3 financial results on October 19 and its revenue for this quarter amounted to ?4.18 billion.
This represents a 12.2 per cent increase on a comparable basis relative to the same period in 2020. When compared to 2019, which is a more reliable indicator, the rise is at 10 per cent. In the months leading up to September 30, the Group?s sales were up 36.6 per cent when benchmarked against figures in 2020 and only nine per cent when compared to 2019.
According to the press release by Kering, the luxury house mentioned its strong growth was attributed to the ?very strong momentum in North America.? In the other key regions like Western Europe and Asia-Pacific, the markets were affected by the rising Covid-19 cases during the summer. Despite the sluggish growth, performance in those markets continued to show promising results.
View this post on Instagram A post shared by Gucci Official (@gucci)
READ MORE: Kering CEO Announces Company-Wide Ban on Fur
The Group?s cash cow still remains to be Gucci as the brand raked in ?2.8 billion from ?2.08 billion in the previous year quarter. Despite being the crown jewel, the Italian brand?s performance was not enough to meet analyst expectations of a 9.1 per cent growth, it managed to...
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