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Kering Sales Beat Estimates on Gucci Turnaround, Surging YSL and Balenciaga

‘Mission accomplished’ at the French group as flagship label Gucci’s sales climbed back above 2019 levels, a key milestone in its recovery from the pandemic.
Physical retail remains vital to Chinese luxury fashion consumers of all ages.
Shoppers line up at a Gucci store in China. Getty. (Getty Images)
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Italian fashion giant Gucci’s revenues climbed back above 2019′s pre-pandemic levels, Paris-based owner Kering said as it reported sales and profit Thursday. It’s a key milestone in the group’s turnaround after years of explosive growth at the flagship brand (helmed by designer Alessandro Michele and CEO Marco Bizzarri) came crashing down during the pandemic.

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Further Reading

The Business Vision Behind Balenciaga’s ‘New Era’

From a couture revival to winning the Met Gala, the Kering-owned brand is white-hot. Ahead of its buzzed-about Paris Fashion Week show Saturday, CEO Cedric Charbit speaks to BoF about the strategy behind ‘new era’ Balenciaga and his plan for pushing sales to the next level.

About the author
Robert Williams
Robert Williams

Robert Williams is Luxury Editor at The Business of Fashion. He is based in Paris and drives BoF’s coverage of the dynamic luxury fashion sector.

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