Kering, the French luxury group, reported an increase of 12.2 percent in sales, to EUR4,187.8 millions, during the third quarter of FY21 that ended on September 30th 2021. This is compared to the same period last fiscal. Gucci’s sales grew moderately by 4.5 percent to EUR2,181.8 millions (Q3 FY20 EUR2,087.8million) due to a decline in footfall.
Kering has achieved a solid third quarter for the group, with double-digit growth over 2019. In a recent press release, Francois Henri Pinault said that Saint Laurent and Bottega Veneta, along with our Other Houses and Kering Eyewear all had outstanding results.
Gucci has a busy fourth quarter planned with the launch of Aria. Pinault said that in a market where luxury is constantly changing, Gucci was strengthening its distribution and positioning of all brands.
North America was the main driver of business growth for the group. Sales continued to increase in Western Europe and Japan, which were still affected by the lack of tourists. In Asia-Pacific the sales grew solidly in the first half of this year but decreased in Q3 due to the increase in COVID-19 cases in the summer.
Online sales in Q3 FY20 increased by 24.3 percent, and by 147.9 percent compared to the same period of 2019.
Yves Saint Laurent, despite Gucci’s disappointing performance, had a great quarter. Sales grew 28.1% to EUR652.9 (EUR510.7). Bottega Veneta sales increased 8.9 percent to EUR363.4 (EUR332.5). With the expansion of Alexander McQueen and Balenciaga, the revenue from other groups houses increased by 26.0% to EUR843.7 (EUR669.1 millions).
