// Kering reported that its revenues had risen to £14.7 billion in 2021, up by more than a third on the previous year
// Gucci delivered revenues of £8.1 billion, up 31% on 2020
Revenue at Kering, which owns Gucci, Alexander McQueen, Balenciaga, Yves Saint Laurent and Bottega Veneta, rose by 34.7% to £14.7 billion, on a comparable basis to 2020, up 13% from 2019, driven by accelerated sales at its Gucci brand.
Gucci’s annual revenue amounted to £8.1 billion, up 31% on a comparable basis to 2019, while Kering’s annual net profit was in line with expectations at £2.67 billion.
The luxury group, revealed that online sales continued to grow at an exceptional pace (up 55%) and now accounts for 15% of total sales.
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In the fourth quarter of 2021, Gucci’s revenue growth accelerated sharply to 32% year-on-year and 18% compared to the same period of 2019, due to the success of its iconic lines, along with an intense schedule of events and new product launches. Sales growth rose by 39% relative to 2020 and 34% relative to 2019 on a comparable basis.
Yves Saint Laurent had a strong quarter, as revenue growth accelerated again to 47% year-on-year on a comparable basis. Sales from directly operated stores rose by 61% relative to the same period in 2019.
Revenue from the group’s other houses were up 34% on a comparable basis, with sales from directly operated stores accelerating sharply, up 60% year-on-year.
François-Henri Pinault, Kering’s Chairman and Chief Executive Officer, said: “Kering realized excellent performances in 2021, further consolidating its prominent position in the Luxury of the future. Thanks to their ability to blend authenticity with bold creativity, all our Houses achieved sharp sales rebound, way beyond their 2019 levels, while reinforcing the exclusivity of their distribution and further enhancing their brand equity.
“We expanded our team of talented people around the world, and I am sincerely grateful for the remarkable accomplishments of all our colleagues. We are working assiduously to meet our ambitious sustainability commitments. All our Houses are stronger than ever before, and we are confident we will extend last year’s momentum in 2022 and in coming years.”
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