Luxury group Kering’s full-year results for 2018 show sales revenues of almost €13.7 billion, which is an increase of more than 25% compared to the figures for 2017. Its net income from these revenues more than doubled compared to the previous year, reaching €3.7 billion.
Without releasing figures for its individual brands, the group said Gucci’s growth for 2018 was almost 37%, with Saint Laurent achieving 18.7%. Brands such as Balenciaga and Alexander McQueen had driven growth of 32% for Kering’s smaller brands, but Bottega Veneta’s revenues were down by 3.4% year on year, pending, the group said, inaugural collections from new creative director, Daniel Lee, who took up the role in July.
On releasing the results, chief executive, François-Henri Pinault, said: “Last year was an excellent year for Kering and its houses in an environment that was generally favourable but grew increasingly complex. We have the ambition and the means to sustain our profitable growth momentum.”
Asked about this last comment, Mr Pinault confirmed that, having divested itself of Puma and Stella McCartney, Kering will consider new acquisitions.
Information courtesy of Leatherbiz