Kering Q3 Revenues Up 23%

(RTTNews) - French luxury brand Kering SA on Thursday reported third-quarter sales of 5.14 billion euros, up 23% from 4.19 billion euros last year. Revenues up 14% on a comparable basis.

Revenue in the directly operated store network continued to grow at a rapid pace, up 19% on a comparable basis. All regions posted growth.

During the three-month period, Gucci sales rose 18 percent to 2.58 billion euros from 2.18 billion euros in the previous-year quarter.

"Kering's solid performances in the third quarter underscore the strength of the Group and the pertinence of our strategy. We delivered sharp top-line growth, both versus last year and from pre-pandemic levels. Our ongoing focus on the exclusivity of our brands and on the quality of their distribution are yielding very positive results and reinforce their positioning in their key markets. 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. We are as confident as ever in the potential and prospects of the Group." François-Henri Pinault, Chairman and Chief Executive Officer.