Kering Group?s Saint Laurent Surges with 37% Growth in Q1 2022
The group?s profit-making brand, Gucci, misses target due to Covid-19 lockdowns in China.
The post Kering Group?s Saint Laurent Surges with 37% Growth in Q1 2022 appeared first on LUXUO.
Image: Saint Laurent
Luxury conglomerate Kering has announced its first quarter financial results of 2022 and overall, the group?s revenue rose by 21 per cent on a comparable basis to ?4.96 billion. The parent company of Gucci, Saint Laurent and Bottega Veneta said that all of its fashion and jewellery houses registered double-digit growth in the first three months of the year.
In a press release, Kering stated that its sales growth was supported by strong momentum in North America and Western Europe, and Japan. However, in the Asia-Pacific region, the results were mixed as new Covid-related lockdown measures have forced the group to close many of its stores in major Chinese cities like Shanghai.
More specifically, François-Henri Pinault, chairman and CEO of Kering, noted that ?Gucci?s strong showing in North America and Europe was overshadowed by its exposure to China, where we are boosting its organisation to fully capture the vitality of the market.?
View this post on Instagram A post shared by Gucci Official (@gucci)
READ MORE: Gucci X MLB: Chic, Sporty And Fun
Revenue at the Italian house grew by 13.4 per cent in Q1 to ?2.59 billion compared to the same period last year. Gucci?s sales have been swinging since the Q3 of 2021 where it rose 3.8 per ce...
The post Kering Group?s Saint Laurent Surges with 37% Growth in Q1 2022 appeared first on LUXUO.
Image: Saint Laurent
Luxury conglomerate Kering has announced its first quarter financial results of 2022 and overall, the group?s revenue rose by 21 per cent on a comparable basis to ?4.96 billion. The parent company of Gucci, Saint Laurent and Bottega Veneta said that all of its fashion and jewellery houses registered double-digit growth in the first three months of the year.
In a press release, Kering stated that its sales growth was supported by strong momentum in North America and Western Europe, and Japan. However, in the Asia-Pacific region, the results were mixed as new Covid-related lockdown measures have forced the group to close many of its stores in major Chinese cities like Shanghai.
More specifically, François-Henri Pinault, chairman and CEO of Kering, noted that ?Gucci?s strong showing in North America and Europe was overshadowed by its exposure to China, where we are boosting its organisation to fully capture the vitality of the market.?
View this post on Instagram A post shared by Gucci Official (@gucci)
READ MORE: Gucci X MLB: Chic, Sporty And Fun
Revenue at the Italian house grew by 13.4 per cent in Q1 to ?2.59 billion compared to the same period last year. Gucci?s sales have been swinging since the Q3 of 2021 where it rose 3.8 per ce...
-------------------------------- |
|
Puente Romano Beach Resort is a Lavish Mediterranean Oasis
30-04-2024 04:04 - (
luxury )
A Guide to Automated Spray Coating Machines
30-04-2024 04:04 - (
luxury )