(Alliance News) - Kering SA on Tuesday hailed a rise in revenue in the first quarter as the Gucci fashion house owner started "bouncing back above pre-pandemic levels".
Group consolidated revenue for the first quarter jumped 26%, on a comparable basis, from last year's EUR3.20 billion, and was up 5.5% on 2019's first quarter, at constant exchange rates.
Growth was well balanced across the group, driven by good performances from all houses, Kering said, although adding that sales in the Asia-Pacific region were up 83%.
Online sales more-than-doubled in the quarter "driving the penetration of e-commerce to 14% of retail sales", Kering said.
"In the first quarter, Kering delivered a strong topline performance, bouncing back above pre-pandemic levels. Growth was consistent across all our Houses, and we are particularly pleased with Gucci's momentum as the brand kicks off its centennial celebration. While 2021 should still face some impact from the health crisis, the strategy, positioning and creativity of our Houses will enable each one of them to thrive in today's environment," said Chief Executive & Chair Francoi-Henri Pinault.
Kering closed down 2.2% at EUR626.10 in Paris on Tuesday.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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