Alexander McQueen and Gucci owner struts its stuff with 28pc sales boost

 
Helen Cahill
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Kering Group is the owner of Alexander McQueen (Source: Getty)

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 figures

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.

Read more: Burberry's share price drops six per cent as overall revenues fall

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."

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