Luxury Giant Kering Reports 54.1% Revenue Growth In 1st Half Of 2021

Kering, the French multinational corporation behind Gucci, Balenciaga, Alexander McQueen and Brioni luxury brands, said on Tuesday that it recorded a 54.1% consolidated revenue rebound year-on-year in the first half of 2021

MOSCOW (UrduPoint News / Sputnik - 27th July, 2021) Kering, the French multinational corporation behind Gucci, Balenciaga, Alexander McQueen and Brioni luxury brands, said on Tuesday that it recorded a 54.1% consolidated revenue rebound year-on-year in the first half of 2021.

"Consolidated revenue rebounded sharply in the first half of 2021, up 54.1% from the first half of 2020 and 8.4% higher than in the same period of 2019, on a comparable basis," Kering said in a press release.

In total, the conglomerate made some 8 billion Euros ($9.5 billion) in revenue during the first six months of the year.

"Kering delivered excellent performances in the first half and resumed its trajectory of strong, profitable growth. All our Houses contributed to a sharp rebound in total revenue, which comfortably exceeded its 2019 level, with a remarkable acceleration in the second quarter," Kering CEO Francois-Henri Pinault said.

The string performance was mostly driven by "excellent momentum" in North America and Asia-Pacific regions, which accounted for 25% and 43% of all sales, respectively.