Kering announces a 15% increase in sales for 2022
Despite a still unstable international economic situation, Kering has announced 2022 revenues of 20.351 billion euros, a positive jump of +15% in reported figures compared to the previous year's results.
By Eva Morletto15 février 2023
In the official press release, François-Henri Pinault explains that all the houses have posted record sales. An analysis of the figures for the group's flagships shows that, despite some difficulties, Kering's iconic brands all ended the year positively. Gucci posted sales of 10.487 billion euros, while in 2021 the fiscal year ended with 9.731 billion euros: an 8% increase that probably could have been better if the house had not been troubled at the end of the year by the sudden departure of designer Alessandro Michele, since replaced by creative director Sabato De Sarno. A change that has led the house to ask several internal questions about the strategies to adopt and the brand image to define in the next collections.
Gucci suffered from a weak fourth quarter: -14% of its sales on a like-for-like basis, compared to the same period of 2021, a decreasing rate explained in part by the impact of health restrictions in China at the end of the year. Yves Saint Laurent performed very well: 3.300 billion in sales compared to 2.521 billion the previous year and a solid increase of +31% in reported data. Bottega Veneta confirmed its good performance, thanks to a loyal clientele and its timeless style: sales for 2022 stabilized at 1.740 billion euros, +16% compared to last year. As for Kering Eyewear, the year was excellent: +55% of its revenues, a very significant jump that is partly explained by the acquisition of the trendy eyewear company Maui Jim.
The 2022 sales figures for the "Other Houses" activity (which includes Alexander McQueen and Balenciaga, whose controversy linked to the inappropriate advertising campaign had severely damaged the brand image) allows Kering's managers to breathe a sigh of relief, as the sales figure turned out to be positive: 3.9 billion euros (+18% in published figures) and an overall very successful year for the collections of the brand created by the designer Demna Gvasalia, despite the difficulties at the end of the year. Although the international economic situation remains unstable and fragile in the short term, Kering continues to pursue its growth policy and has confirmed its position as one of the most stable and influential groups in the luxury goods industry.
The group is pursuing its ecological commitment in parallel: on the occasion of the COP in Montreal, Kering and L'Occitane announced their alliance in 2022 with the aim of creating the Climate Fund for Nature. The planned investment to achieve the objectives of the partnership is 300 million euros.
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