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Kering’s Luxury Houses Report Strong Sales in H1 2022

Industry: Fashion & Accessories
Current: Company Performance

Kering generated revenue of EUR7,701 million in H1 2022
Gucci generated nearly 52% of the revenue for Kering in H1 2022
Sales in H1 2022 grew 23% year-over-year

In the first half of 2022, Kering’s total revenues amounted to EUR9,930 million (including revenue from the Kering Eyewear and Corporate segment), an increase of 23.4% as compared to EUR8,047 million in revenues in H1 2021. The revenues in H1 2022 increased owing to the easing of most of the COVID-19-related restrictive public health measures. The gradual easing of restrictions in North America, Western Europe, Japan, and other Asia-Pacific countries such as South Korea and Australia gave a major boost to consumers' confidence and propensity to spend. Although sales in China were negatively impacted due to the imposition of a strict zero-COVID policy.

In H1 2022, Kering generated the majority of its revenues from Gucci (EUR5,173 million), whereas the other significant contributors were Yves Saint Laurent (EUR1,481 million) and Bottega Veneta (EUR834 million).

Kering segregates its revenues into five geographical regions: Asia-Pacific (excluding Japan), Western Europe, North America, Japan, and the Rest of the world. Sales rebounded strongly in Western Europe, whereas in North America, revenue growth slowed in the second quarter compared to the year-earlier period. As for the Asia-Pacific region, except for China, sales continued to grow, with business levels remaining strong in the luxury brand market.

Kering sells its luxury products through directly operated stores and e-commerce sites. As of June 30, 2022, Kering had a total of 1,599 stores across the world, these directly operated stores generated nearly 77% of the total sales in H1 2022, whereas E-commerce sites directly operated by the Group's Houses represented almost 16% of the retail channel’s revenue.

Other Houses include brands such as Alexander McQueen, Balenciaga, Brioni, Boucheron, Pomellato, Qeelin, Sowind, and Ulysse Nardin.

The "Corporate and other" segment has been renamed "Kering Eyewear and Corporate" in Q1 2022.

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