Consolidated revenue: €15,478 million,up 25.0% as reported, 27.2% on a comparable basis
Luxury activities: up 27.5% as reported, 29.9% on a comparable basis
Sport & Lifestyle activities: up 12.8% as reported, 14.7% on a comparable basis
Recurring operating income: €2,948 million, up 56.3%
François-Henri Pinault, Chairman and CEO, stated: “Kering delivered a phenomenal year in 2017. We created over 3 billion euros in additional revenues in a single year, and generated more than a billion in additional EBIT. Gucci, whose performance was nothing short of spectacular, is amplifying its desirability across all markets. Saint Laurent is on a rapid growth track, while Bottega Veneta pursues its redeployment. Balenciaga is charting an impressive development trajectory, and our other Luxury brands are experiencing positive momentum. All of our Houses enjoy huge growth potential, rooted in their skills at reinventing codes, enhancing desirability through bold creative visions, and thereby creating value. We unequivocally demonstrated the strength of our business model. In a global environment that remains uncertain, we will not relax our vigilance, but we are confident that the complementarity of our Houses, our geographic footprint, the diversity of our customer base and the strengths of an integrated Luxury Group will enable us, this year again, to do much better than our markets.”
Sharp market outperformance for Luxury activities
• Revenue for the Luxury activities topped the €10 billion mark in 2017, up 29.9% year on year based on comparable data.
• Gucci and Yves Saint Laurent delivered spectacular comparable growth (up 44.6% and 25.3%, respectively).
• Other Luxury brands saw an acceleration in revenue growth (up 14.1% on a comparable basis), especially Balenciaga, which delivered the fastest growth rate of all KERING Group brands in the second half.
A global Luxury group, Kering develops an ensemble of luxury houses in fashion, leather goods, jewellery and watches: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, Pomellato, Qeelin and Ulysse Nardin. Kering is also developing the Sport & Lifestyle brands Puma, Volcom and Cobra.
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