Gucci drives Kering profits to record high
Le Monde reported on February 14: On February 12, François-Henri Pinault, chairman of Kering Group, announced the 2018 annual report of Kering Group, which was actually prepared by his family. The controlled Kering Group continued to maintain a crazy growth momentum in 2018, with total annual sales of 13.6 billion euros, an increase of 2.8 billion euros or 29.4% compared with 2017, operating profits increased by 28.9%, and export profits of 1.3 billion euros.
Among them, Gucci, a brand originating from Florence, had an operating profit of 3.2 billion euros in 2018, accounting for more than 80% of the group’s total profit. The group also owns Yves Saint Laurent, Bossieron, Balenciaga and other brands. Since Gucci appointed Alessandro Michele as design director in 2016, its performance has continued to grow. The flamboyant sports shoes, sweatshirts, handbags and other products are popular all over the world, with the average sales per square meter of its 540 stores reaching 40,000 euros, exceeding 70% of online sales, a year-on-year increase of 33.4%, and sales of 830,000 euros.
In June 2018, Gucci President Macro Bizzarri set a goal for the team to achieve sales of tens of billions and surpass rival Louis Vuitton. While achieving its goals, Gucci Group will develop new product lines and release new jewelry products in June this year to consolidate its high-end product lines. Pinault hopes that the group will further develop the beauty market and is not satisfied with the current profit of 400 million euros. He will continue to cooperate with the American Coty Group and launch new beauty products in May.
King Group executives are optimistic about the group’s performance growth in 2019. Even taking into account the economic situation of China’s largest market, they still actively believe that sales will not be enough. will decrease because the high sales in the fourth quarter of 2018 are enough to dispel their concerns.
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