Kering inks double digit Q1 sales growth
For the first quarter of 2015, group revenue at Kering which has luxury fashion brands like Gucci and Alexander McQueen in its portfolio, rose in double digits from a year earlier quarter.
“On a reported basis, revenue rose to €2.7 billion in the first quarter of 2015, up 11.4 per cent over the first quarter of 2014 and was nearly flat on exchange rate basis,” a Kering press release informed.
Its Luxury business posted reported revenue growth of 11 per cent year over year in the first quarter of 2015, driven by positive trends in Western Europe, where comparable sales were up 14 per cent from the prior year quarter.
In the reporting quarter, the Gucci brand, which is in a period of transition, recorded reported sales growth of nearly