After a second quarter marked by the health and economic crisis, sales in the third quarter (+7% at constant exchange rates and +4% at current exchange rates) are driven by strong activity in the group’s stores, the momentum in Asia and a significant improvement in all other geographical areas.
At the end of September 2020, the Group’s consolidated revenue amounted to €4,288 million, down 14% at current exchange rates and at constant exchange rates.
At the end of September 2020, sales in the group’s stores were down 11% at constant exchange rates, with a third quarter up 12%. The acceleration of online sales rose steadily, notably seeing a sharp increase in traffic and conversion rates. Wholesale activities are down 35% over nine months, mainly penalised by travel retail.
For 2020, the impacts of the Covid-19 epidemic remain difficult to assess, as the scale, duration and geographic extent of the crisis evolve every day. The highly integrated craftsmanship model and balanced distribution network, as well as the appeal of the collections and the customers’ loyalty give the Group confidence in the future and support the resumption of operations. The Group remains highly involved and active by regularly assessing the situation and adapting measures to those taken by health and public authorities.
October 29, 2020