Take a look inside the recent revenue reports at Gucci, Bottega Veneta, Saint Laurent and Pomellato.
Releasing its first-quarter figures after the close of trading here on Thursday,
During a webcast to discuss the results, Kering chief financial officer Jean-Marc Duplaix warned that “activations” to boost Gucci’s “brand perception and penetration” in China would be shifted to later in the year once lockdowns and other pandemic restrictions ease. Duplaix was peppered with questions about Gucci’s performance and bristled when HSBC analyst Aurelie Husson-Dumoutier asked if there was “something broken” at the brand, given its recent underperformance versus its peers.
She further clarified that about 10 percent of the brand’s China network was closed during the last two weeks of March, with about 30 percent of locations dark in early April. Asked about early signals for the second quarter, he said “in Western Europe and North America, trends are still supportive.”reported a 37.2 percent jump in first-quarter revenues on a comparable basis to 739 million euros, the strongest performance in the group.
Revenues at “other houses” — which include Balenciaga, Alexander McQueen and Brioni in fashion and Boucheron, Pomellato and Qeelin in jewelry — improved 35.1 percent to 973.4 million euros.
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