299
Fashion Jobs
L'OREAL GROUP
Assistant CRM Manager
Permanent · HONG KONG
L'OREAL GROUP
Key Account Manager
Permanent · HONG KONG
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
By
Reuters
Published
Oct 23, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

Kering buoyed by resilient sales growth at luxury star Gucci

By
Reuters
Published
Oct 23, 2018

Demand for Gucci handbags proved more resilient than expected in the third quarter, helping to drive a strong revenue rise at the Italian brand's parent Kering at a time of heightened investor nerves over luxury goods companies.


Gucci - Spring-Summer2019 - Womenswear - Paris - © PixelFormula



Manufacturers of high-end goods are in the spotlight as concerns grow over a trade spat between China and the United States and whether it will curb demand, after sparking a Chinese stock market selloff and falls in the yuan.

Kering has also been under scrutiny over how long its star brand Gucci, riding high after a flamboyant makeover under designer Alessandro Michele, can keep pulling in shoppers at a breakneck pace.

Gucci trumped forecasts yet again, however, with comparable revenue growth coming off recent quarterly highs of over 40 percent but far exceeding analyst forecasts at 35.1 percent in the third quarter.

That helped drive a better-than-expected sales momentum at Kering overall, offsetting a worsening situation at Bottega Veneta, which is in turnaround mode and brought in a new designer, Daniel Lee, in June.

Healthy appetite from Chinese consumers contributed to Gucci's performance and that of other brands, Kering's financial director Jean-Marc Duplaix said, adding that investor worries about the industry may be overdone.

"Markets look at the worst case scenario without carefully looking at the trends," Duplaix told journalists, adding that demographics in China for example were very encouraging.

Kering's key brands performed better in the third quarter in continental China than at other points this year, Duplaix added.

Kering shares closed down 3.79 percent on Tuesday before the sales figures were published, after falling just over 30 percent since hitting record highs in mid-June.

Like peers including Louis Vuitton owner LVMH , Kering is among the luxury groups that has so far benefited the most from an industry rebound fuelled by young, middle class Chinese customers spending on high-end goods at home and overseas.

Kering's revenue reached 3.4 billion euros ($3.90 billion) in the July to September period, and increased 27.5 percent on a comparable basis.

© Thomson Reuters 2024 All rights reserved.