Gucci growth in China

Global luxury group Kering, manager of the Gucci, Saint Laurent and Alexander McQueen brands, has reported strong financial results.

Gucci signs are seen outside a shop in Paris, France, December 18, 2017. [Photo: VCG]

Over the first six months of this year the group saw revenues rise by some 33 percent when compared to the same period last year.

Gucci, in particular, saw record-high recurring operating margin, with a rise of 44 percent over the period.

Chinese demand helped the brand to achieve these outstanding results.

Speaking to reporters, financial director Jean-Marc Duplaix said that ongoing trade issues with the United States hadn’t harmed the business:

“At this stage we’ve not seen any slowdown in demand from Chinese clients.”

Francois-Henry Pinault, Chairman and CEO of Kering, said, “Kering achieved dazzling top-line and earnings performances in the quarter and six months.”

“Our growth, grounded in the exclusivity and desirability of our brands, is remarkably healthy.”

“The development model we implement across our Houses paves the way for increased value creation as well as profitable, sustained and consistent organic growth.”

“While facing increasingly demanding comps and an uncertain global environment, we will once again substantially enhance our financial and operating performances in 2018.”