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Home News Kering sales surge on European recovery

Kering sales surge on European recovery

Published on 20/10/2022
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French luxury group Kering said Thursday sales jumped in the third quarter to over five billion euros as activity in Western Europe rebounded.

Sales in the July-September period climbed 23 percent to 5.1 billion euros ($5.0 billion), or by 14 percent on a comparable basis.

“In an increasingly complex environment, we maintain the required flexibility to support our profitability and sustain our investments in the long-term outlook of all our houses, Gucci first and foremost,” said chief executive Francois-Henri Pinault.

Gucci’s sales rose by 18 percent, but those of Yves Saint Laurent surged by 40 percent.

Sales in Western Europe soared by 74 percent thanks in part to a return of US tourists.

Asia-Pacific sales rose seven percent despite Covid restrictions in China.