Gucci owner Kering hails ‘remarkable’ year as sales soar
Luxury group Kering has hailed a ‘remarkable’ year after rapid growth on the back of demand for Gucci in Asia and North America. The French conglomerate, which has a stable of fashion brands including Alexander McQueen and Saint Laurent, saw organic revenue rise by 23.3% in the final quarter to 3.7 billion euros (£3.24 billion), beating analyst expectations. More than half of this was accounted for by star brand Gucci, which topped 8 billion euros of revenue last year. Demand in the Asia-Pacific region powered growth, with sales up 45%. North America was close behind with a 43.6% increase.