1 August 2023
Luxury group Kering has reported revenues of €10.1 billion for the first half of 2023, an increase of 2% year on year, writes Leatherbiz.
Gucci contributed €5.1 billion towards the total, a fall of 1% for the group’s biggest brand. However, there was growth of 6% at Yves Saint Laurent, taking its revenues for the January-June period to €1.6 billion. Figures for Bottega Veneta showed revenues for the first half of €833 million, flat compared to the same period in 2022.
Sales at the group’s other brands registered a fall of 5% year on year, with a combined total of €1.9 billion. Kering said there had been “a significant improvement” in the second quarter of 2023 compared to the first.
Chief executive, François-Henri Pinault, said: “The developments of the first half strengthen my confidence in Kering’s future prospects.” He explained that the group had maintained a high level of profitability and added that major organisational changes announced in mid-July would enhance the stewardship of Kering brands.