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Kering with 15% revenue growth

Dec 11, 2015 France
Kering with 15% revenue growth
France-based leader in apparel and accessories has announced 15.2% revenue growth in the first nine months of the year. Revenue generated by Luxury activities up by 16.5%. Sport & Lifestyle activities grew by 12.8%
François-Henri Pinault, Kering's Chairman and Chief Executive Officer, commented: "In the third quarter, the group posted solid sales growth in line with our performance in the first half. In a volatile macroeconomic and monetary environment characterised by sharp contrasts across regions, our well-balanced economic model and brand portfolio enabled our Luxury activities to deliver healthy performances, powered notably by the momentum in directly operated stores and by a surge in tourist shoppers in Western Europe and Japan."

Kering posted total revenue of  2 895 million euros in the third quarter of 2015, growing by 12.0%  from similar period in 2014. In the Luxury segment the group announced sales growth of 14.0% on a reported basis (3.1% on a comparable basis), lifted by the business momentum of directly operated stores. The implementation of Puma’s action plans is yielding the expected results for the Sport & Lifestyle activities, with sales growth on track at 3.9% on a comparable basis in the third quarter of 2015.

In a persistently uneven foreign exchange environment, Kering says that its Luxury segment performance was driven by retail sales in directly operated stores (up 6% on a comparable basis), and the dynamism of mature markets such as Western Europe and Japan (up 29% and 26%, respectively, on a comparable basis).

Gucci posted an 8.6% increase in sales on a reported basis in the third quarter of 2015, virtually stable on a comparable basis (down 0.4%), during a period marked by solid performances in directly operated stores in both Western Europe and Japan (up 27% and 24%, respectively, on a comparable basis). Sales at Bottega Veneta rose 13.2% as reported and 4.3% on a comparable basis in the third quarter of 2015. Revenue from directly operated stores was up 4% on a comparable basis, lifted in particular by solid performances in Western Europe and in Japan (up 33% and 15%, respectively, on a comparable basis), with both local clients and tourists contributing to growth.

Yves Saint Laurent once again enjoyed strong momentum in the third quarter of 2015, with sales surging by 36.9% as reported and by 26.6% on a comparable basis. In the third quarter of 2015, the Other Luxury brands posted reported revenue growth of 16.5% (down by 1% on a comparable basis).

Sales generated by the Sport & Lifestyle activities were up by 8.4% as reported and 3.4% on a comparable basis during the quarter. Puma’s sales grew by 8.3% on a reported basis (up 3.9% on a comparable basis), and were again lifted by positive sales trends in the footwear segment in particular. Over the first nine months of the year, Puma recorded revenue growth of more than 5% on a comparable basis, and the implementation of its relaunch initiatives has remained on track.

Kering develops an ensemble of powerful Luxury and Sport & Lifestyle brands: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Sergio Rossi, Boucheron, Dodo, Girard-Perregaux, JeanRichard, Pomellato, Qeelin, Ulysse Nardin, PUMA, Volcom, Cobra and Electric. Present in more than 120 countries, Kering generated revenues of 10 billion euros in 2014 and had more than 37 000 employees at year end.

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