The luxury goods market continues to hold up with Gucci’s parent company Kering reporting revenue last year increased by 15.4 percent.
Gucci, which accounts for nearly two-thirds of Kering’s profit, saw comparable sales rise by 4.8 percent in the final three months of 2015.
Kering – who’s brands include sports clothing line Puma, as well as Yves Saint Laurent and Bottega Veneta – said sales in Western Europe and Japan showed strong growth.
“Kering [has beaten] top-line growth estimates and [this] shows that Gucci’s management is both expedient and on the right track,” Exane BNP Paribas analyst Luca Solca said.
“Gucci has come in with a significant number of new styles that are starting to turn heads – at the same time, it is benefiting from promotions on its former collections, in a repeat of the second-quarter pattern.”
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