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7/27, 5:42 PM (Source: TeleTrader)
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Kering-7.39%

665.50
Chart for: Kering SA

Kering H1 revenue up 54.1% to €8.05 billion

French luxury goods corporation Kering said on Tuesday its revenue in the first half of 2021 amounted to €8.05 billion, marking a 54.1% increase compared to the same period of last year when the coronavirus pandemic broke out. Compared to the first half of 2019, the company said revenue was up 8.4%.

Meanwhile, Kering's investor update revealed second-quarter sales nearly doubled led by Gucci and the company's North American operations, landing at €4.16 billion in the three months to July. Sales were 11% higher than in the second quarter of 2019, prior to the pandemic, the report noted.

"While returning to substantial profitability and leveraging the desirability of our brands, we are stepping up the pace of our investments in our Houses and strategic initiatives, notably to enhance the exclusivity and control of our distribution," Kering Chairman and CEO Francois-Henri Pinault said.

Breaking the News / JC