Kering Sees Unexpected Revenue Performance, Rising in North America and Falling in Europe
Gucci, one of the hottest brands of 2020, has suffered a decrease in sales.
Having experienced significant losses in Q1, Kering has now reported its latest revenue performance for Q3. Based on data and research by Stock Apps, the luxury fashion conglomerate saw a 44.1 percent jump in North America and a 41 percent slump in Western Europe.
Overall, Kering’s key regions for Q3 included North America, followed by Asia Pacific at 18.5 percent. Gucci – one of the company’s biggest brands that was named the hottest by Lyst – saw a 12.1 percent YoY decrease in sales during the quarter, although its page views did increase by 52 percent. Just like its parent company, the label experienced growth in revenue by 43.7 percent in North America and 10.6 percent in APAC, contrasting the significant drop in regions like Japan. The uneven numbers are due to the lack of tourism in Western Europe and Japan this year due to the coronavirus pandemic. In addition to Gucci, Bottega Veneta‘s revenue was up by 17 percent YoY, with online sales skyrocketing by 101.9 percent.
You can head over to Stock Apps for the full report on Kering’s Q3 revenue.