Kering Eyewear Reports Strong Sales Gains in First Half

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PADOVA, Italy—Against the backdrop of a strong financial performance in the first six months of the year for Kering Group, the luxury company cited "another excellent performance" from Kering Eyewear. According to the company's results issued yesterday, Kering Eyewear’s sales rose sharply in the first half of 2019 to €320.8 million, fueled by the success of its Gucci, Saint Laurent and Cartier brands, and by its takeover of the Montblanc and Balenciaga licenses, it was reported. In addition, Kering Eyewear's contribution to the group’s consolidated revenue for the period amounted to €259.4 million, up 20.7 percent on a comparable basis (after eliminating intra-group sales and royalties paid to the Group’s Houses). Kering Eyewear’s profitability progressed significantly.

Kering Eyewear began as a “startup” under the Kering Group corporate umbrella in 2014.

Overall, the Kering Group reported robust results with a consolidated revenue of €7,638.4 million, an increase of 18.8 percent (15.3 percent on a comparable basis) with  recurring operating income up 25.3 percent to €2,252.7 million. The company cited the strong performances of its houses, revenue growth of 16.3 percent for the Gucci brand and ongoing momentum for Yves Saint Laurent, with sales up 16.6 percent on a comparable basis.

Stated Kering Group chairman and CEO,  François-Henri Pinault, "The first half of the year, we delivered another very strong set of results. Kering’s revenue growth handily topped market trends, and was highly profitable. We created an additional 1.2 billion euros in revenue in the six months, and our operating margin reached a record 29.5 percent. Our strategy is clearly paying off. The success of our brands, built on creativity, innovation, and customer dedication, along with rigorous execution and financial discipline, are delivering a superior combination of organic growth and sustainable profitability.”