Kering Cites ‘Robust Performance’ for Kering Eyewear in First Quarter

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PARIS—The Kering Group ( KER.PA) cited the "very robust" performance of its Kering Eyewear business within the French luxury group's first quarter financial report. Kering stated that Kering Eyewear reported a 23 percent comparable increase in consolidated sales to €128.4 million, "underpinned by the excellent performance of Gucci eyewear and the successful launches of the Balenciaga and Montblanc collections." Overall, the Kering Group revenues for the first quarter rose 21.9 percent (17.5 percent on a comparable basis) to €3,785.3 million, on the strength of its apparel, jewelry and related accessories in the Gucci house, Saint Laurent and others such as Balenciaga and Alexander McQueen.

Stated Francois-Henri Pinault, Kering's chairman and CEO, "Delivering a solid start to 2019, Kering continued to outperform. On top of very strong increases in the first quarter of last year, Gucci, Saint Laurent and our Other Houses all posted excellent revenue growth, fueled by the creativity of their offers and the innovativeness of their execution. As Bottega Veneta implements a fundamental reset, early indicators are highly encouraging. The agility we have put at the heart of our organization positions us well to continue achieving steady, sustainable and profitable growth.”