Kering’s sales climb 21% in the first quarter

The luxury goods giant saw its first-quarter sales climb 21 percent to 4.96 billion euros on a like-for-like basis compared with the same period last year.

Kering posted solid revenue growth in the first quarter, slightly beating Citi’s estimate of 4.89 billion, the analyst forecast deemed most reliable by Refinitiv.

The performance of the Saint Laurent label and that of Gucci, its flagship brand, in North America and Europe helped to offset difficulties due to health restrictions in China.

Saint Laurent’s sales rose 37% on a like-for-like basis in the first three months of the year, while Gucci’s sales, affected by the COVID-19 containment measures in China, increased 13%.

Featured photo : © Kering

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