4/20, 5:49 PM (Source: TeleTrader)
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Chart for: Kering SA

Kering's revenue up 21% to €3.9 billion in Q1

Luxury group Kering SA said on Tuesday that its revenue in the first quarter of 2021 amounted to €3.9 billion, jumping 21% from the same period a year earlier and topping estimates.

On a comparable basis, revenue climbed 25.8% year on year. All brands reported strong increases in revenue with Gucci's revenue rising 20% to €2.2 billion.

"In the first quarter, Kering delivered a strong topline performance, bouncing back above pre-pandemic levels. Growth was consistent across all our Houses, and we are particularly pleased with Gucci’s momentum as the brand kicks off its centennial celebration," CEO Francois-Henri Pinault stated. "While 2021 should still face some impact from the health crisis, the strategy, positioning and creativity of our Houses will enable each one of them to thrive in today’s environment," he added.

Breaking the News / NP