News 
In a year of disruption, Kering demonstrated remarkable resilience and agility.
In 2020, the French luxury group, which encompasses Houses involved in fashion, leather goods, jewellery and watches (Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, Dodo, Qeelin, Ulysse Nardin, Girard-Perregaux and Kering Eyewear) posted a consolidated revenue of 13.1 billion euros, down 17.5% reported (-16.4% on a comparable basis) for its fiscal year 2020.
While the health environment and lockdown measures took a heavy toll on sales in the first half (-30.2%), trends improved significantly in the second half (-3.3%), despite new restrictions at the end of the year that weighed on certain geographic regions.
In the retail network, comparable sales were down 15.9% and were nearly stable in the second half (-1.5%). E-commerce sales further accelerated (+67.5%) and accounted for 13% of sales generated by the retail network over the entire year.
Positioned in structurally fast-growing markets, Kering enjoys solid fundamentals, a portfolio of complementary brands and clearly focused priorities. The group is also proactively investing to develop growth platforms in the areas of e-commerce, innovative digital tools, as well as logistics and technological infrastructure.
March 04, 2021