Kering: first quarter sales exceed pre-pandemic level

The Kering group achieved 3.89 billion euros in sales in the first quarter of 2021, unsurprisingly exceeding the same period of 2020 marked by the pandemic, but also that of 2019, according to a press release released on Tuesday.

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For the first three months of the year, the group of François-Henri Pinault announced sales totaling 3.89 billion euros, a figure higher than the consensus compiled by the Bloomberg and Factset agencies which expected 3.6 billion.

Growth was 21.4% in published data and 25.8% in organic terms compared to 2020. Compared to the first quarter of 2019, the increase was 5.5% at constant exchange rates, specifies the French group .

"

" said CEO François-Henri Pinault, quoted in the press release.

"

The best first quarter in its history

"

The group's flagship brand, Gucci, which had disappointed in 2020, achieves 2.17 billion sales (+ 24.6% over one year organically).

Yves Saint Laurent also had a good start to the year with sales of 516.7 million euros (+ 23.4%).

Bottega Venata achieves 328.2 million euros in sales (+ 24.6%), "

" said Jean-Marc Duplaix, group chief financial officer during a press briefing.

The turnover of the other houses reached a total of 714.3 million euros (+ 33.1%).

Without giving details, Kering affirms that the jewelry houses (Boucheron, Pomellato, Qeelin) "have

".

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The turnover of the home-owned store network shows organic growth of 31.8% compared to the first quarter of 2020 and even 6.3% compared to 2019 when more than half of the stores were closed in Europe.

In-store sales are particularly up in Asia-Pacific (+ 83%) and North America (+ 46%).

Online sales have doubled compared to 2020.