Kering SA reported third-quarter revenue growth that beat analysts’ estimates as demand for Puma footwear and Saint Laurent dresses offset declining sales of Gucci handbags.
Kering Group sales climbed 3.1 percent on a comparable basis, Paris- based Kering said Thursday after European markets closed. Analysts predicted growth of 2.8 percent, according to the median of 21 estimates.
Saint Laurent is benefiting from fresh leadership as creative and image director Hedi Slimane’s 1,150-euro ($1,283) bags and 3,200-euro leather jackets help make it one of the industry’s fastest-growing brands. Footwear sales are boosting Puma’s growth and the brand’s revamp remains on track, Kering said in the statement. Comparable sales at both brands beat estimates in the quarter, which was characterized by sharp contrasts across regions, the company said.
Gucci Fall Winter 2015 ad campaign
More from NEWS
LOEWE takes its ”Crafted World” exhibition to Tokyo
Conceived as a travelling exhibition, LOEWE's Crafted World will arrive in Tokyo, Japan. Designed in collaboration with renowned Dutch architecture practice OMA, the …
Midscale and upscale branded residences are on the rise
Branded residences have traditionally catered to affluent buyers seeking exclusivity and premium services. Though luxury has dominated the market so …
BERLUTI debuts new Interiors Collection
An essential aspect of the Berluti lifestyle, furniture has been designed by the Maison since the 1960’s, when Talbinio Berluti …
