GUCCI DRIVES KERING'S LUXURY DIVISION IN Q3
A STELLAR PERFORMANCE
Third-quarter sales at Kering jumped significantly propelled by Gucci’s blockbuster results, which helped register an 11.3 percent hike in the luxury activities of the French powerhouse. The outstanding achievement of the luxury division helped Kering gain a 10 percent hike in overall revenues in the third quarter which totaled $3.54 billion. Gucci’s retail sales climbed 19 percent in the three months to Sept. 30 while e-commerce sales shot up 57 percent with strong double-digit growth in all regions. Driven by the top performing vision of Creative Director Alessandro Michele and by the sharp business acumen of Ceo Marco Bizzarri, Gucci accounts for nearly 60 percent of Kering’s operating profit. Product wise, Gucci’s success is boosted by the GG Marmont and Dionysus handbags, quirky reinterpretations of the horsebit loafers, embellished knits and lamé pleated skirts. Bizzarri’s aim is turn Gucci into a six- billion- euro brand in the long term.
In regards to other labels, Saint Laurent grew 33.9 percent during the period, thanks to the success of its evergreen collections and to the positive feedback of new styles including the Sunset Monogram.