Good performance for Kering

Group consolidated revenue rose sharply in the first quarter, up 25.8% (€3,890 million) on a comparable basis.

Versus the first quarter of 2019, revenue increased 5.5% at constant exchange rates. Growth was well balanced across the Group, driven by good performances from all Houses.

Comparable revenue generated by the Luxury Houses’ directly operated networks climbed by 31.8% from the first quarter of 2020 and by 6.3% versus the first quarter of 2019, against a backdrop of store closures in part of the retail network. The increase in sales was largely driven by outstanding momentum in Asia-Pacific (up 83%) and North America (up 46%). Sharp growth in online sales continued across regions, up 108% in the quarter, driving the penetration of e-commerce to 14% of retail sales.

Comparable sales generated through the wholesale network were up 8.9% in the first quarter of 2021, as the Group continues to streamline this distribution channel.

April 29, 2021