Demand for Gucci handbags proved more resilient than expected in the third quarter, helping to drive a strong revenue rise at parent Kering at a time of heightened investor nerves over luxury goods companies.
Men and young millennial shoppers are the main drivers of a sales explosion at Balenciaga, with the storied couture firm turned edgy label now posting the fastest growth rates within the Kering group, its CEO has said.
While analysts have questioned whether consumers might tire of Gucci’s distinct look, the brand's 49% jump in Q1 sales indicates otherwise. Still, comparisons against its stellar performance in 2017 are growing tougher.
Gucci, Saint Laurent and Balenciaga all turned in powerful performances in Q3 for Kering but Bottega Veneta has some way to go. Gucci remains the conglomerate's star brand with both retail and wholesale soaring.
It’s all about Gucci at Kering these days, as the French-controlled conglomerate posted a brilliant set of first half results Thursday night, the majority of the good news very much due to the Florentine marque.