Gucci Leads with €9.73bn in Sales, Up 30.8% Year-on-Year

  • Kering reports record revenues of €17.64bn (£14.72bn) in FY21, up 35% year-on-year
  • Gucci’s revenue reaches €9.73bn (£8.12bn), up 30.8% from FY19
  • Operating income grows 60% to €5.01bn (£4.18bn)
  • EBITDA increases 41.5% year-on-year to €6.47bn (€5.39bn)
  • Net income attributable to the group up 47.7% to €3.17bn (£2.65bn)
  • Yves Saint Laurent’s revenues reach €2.52bn (£2.1bn), up 45% from FY19
  • Other houses generate €3.26bn (€2.72bn) in FY21, up 43% from FY20 and 44% from FY19
  • Wholesale revenues rise 40% year-on-year with strong performances from Balenciaga and Alexander McQueen
  • Online sales account for 15% of total retail network sales
  • Sales in directly operated stores up 46% from FY20, 10% from pre-Covid levels
  • François-Henri Pinault: ‘All houses are stronger than ever before’
  • Kering aims to extend momentum into 2022 and coming years

Luxury goods conglomerate Kering has reported record revenues of €17.64 billion ($20.5 billion) for FY21, marking a 35% increase year-on-year and surpassing pre-Covid levels by 13%. Gucci led the way with sales reaching €9.73 billion ($11.1 billion), up 30.8% from the previous fiscal year. Operating income grew 60% to €5.01 billion ($5.8 billion, and EBITDA increased by 41.5%. Net income attributable to the group rose 47.7% to €3.17 billion ($3.6 billion. Yves Saint Laurent also saw a 45% increase in revenues from FY19. Kering’s other brands contributed €3.26 billion ($3.7 billion, up 43% from FY20 and 44% from FY19. Wholesale revenues fell 10% for Gucci but saw strong performances from Balenciaga and Alexander McQueen. Online sales now account for 15% of the retail network’s total, up 55%. François-Henri Pinault, CEO, expressed confidence in maintaining this momentum into 2022 and beyond.

Factuality Level: 10
Factuality Justification: The article provides accurate information about Kering’s financial performance, including revenue growth across all houses and regions, specific brand performances, and overall sales trends. It also includes quotes from the chairman and CEO that support the claims made in the article.
Noise Level: 7
Noise Justification: The article provides relevant information about Kering’s financial performance and growth across its brands, but it lacks a deeper analysis or contextualization of the factors contributing to this success, as well as any discussion on potential challenges or risks. It also does not offer actionable insights or solutions for readers.
Financial Relevance: Yes
Financial Markets Impacted: Kering’s financial performance impacts luxury goods sector and related stocks
Financial Rating Justification: The article discusses Kering’s record revenues, operating income, EBITDA, and net income, which are all financial metrics. It also mentions the growth of various brands under Kering, such as Gucci and Yves Saint Laurent, and their impact on the luxury goods sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the text

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