Kering Group, the owner of global fashion brands Gucci, Alexander McQueen and Stella McCartney, exceeded analysts' estimates with a sales jump of more than 20 per cent.
The Paris-based fashion group's comparable sales soared 28.6 per cent in the first quarter, and online sales jumped 60 per cent. Wholesale sales climbed 20 per cent.
Sales by brand:
- Gucci revenue shot up 48 per cent
- Bottega Veneta was up 2.3 per cent
- Yves Saint Laurent grew 33.4 per cent
- Other brands (including Stella McCartney and Alexander McQueen) were up 11.1 per cent as a group
At time of writing, Kering's share price was up 10 per cent.
Francois-Henri Pinault, chairman and chief executive, said: "Kering achieved a record performance in the first three months of the year, posting a sharp acceleration in sales growth. Benefiting from somewhat more favourable market conditions, our strong delivery primarily stems from meticulous execution of our strategy and the creative audacity of our Houses."