French fashion house Kering is riding the luxury sales boom with Gucci sales up 31% to £8.1bn
Gucci accounts for around two-thirds of Kering’s sales
Kering posted record sales last year thanks to growing demand for luxury goods. The French fashion house was boosted by its star brand Gucci, which saw sales jump 31% from a year earlier to £8.1billion.
Gucci, which accounts for around two-thirds of Kering’s sales, has returned from the pandemic as the return of international travel has brought wealthy travelers back to stores.
The designer label, which makes handbags, shoes and accessories, was also helped by a host of marketing and promotional events for its 100th anniversary. She launched a Gucci 100 collection including a Diana bag for £29,000, inspired by the late Princess of Wales’ favorite handbag from the 90s.
Gucci’s profits jumped 42% from a year earlier to £3.1bn. This helped Kering make a total profit of £3.7bn, up from £2.3bn in 2020. Kering, which also owns Yves Saint Laurent, Balenciaga and Alexander McQueen, said overall sales had reached £14.7 billion in 2021, 35% more than in 2020. Its shares in Paris jumped 5.6%.