Tuesday, 13 February 2018

Gucci Boosts Kering's Fourth-Quarter Sales Growth.

Gucci Spring/Summer 2018 campaign | Source: Gucci
Kering is enjoying its most profitable year on record, as Gucci closed out 2017 with another quarter of runaway growth.

PARIS, France — Gucci designer Alessandro Michele’s crystal- and sequin-covered creations continued to light a fire under consumers in the holiday season.

The Italian fashion label closed out the year with another quarter of runaway growth, with comparable sales rising 45 percent in the fourth quarter, owner Kering said in a statement. That’s helped drive the Paris-based company to its most profitable year on record.

Millennial shoppers have been at the forefront of rebounding sales in the luxury industry, with customers under the age of 35 making up 85 percent of growth last year, according to consultancy Bain & Co. Recurring operating profit rose 56 percent last year to 2.95 billion euros as Kering brands including Saint Laurent and streetwear label Balenciaga joined Gucci in reaping the fruit of youth-focused reboots.

By Bloomberg.
Full story at Business of Fashion.

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