Kering had a better 2017 than you. In fact, Gucci’s parent company had a better year than just about any fashion brand, with 2017 revenues surging to the most impressive ever-recorded for the Paris-based owner of Gucci, Saint Laurent, Balenciaga, Alexander McQueen and more. In announcing its 6.2 billion euros ($7.6 billion) in revenue it brought in last year – enabling it to surpass the 5.5 billion euros posted by Hermes and enjoy what may have been the best year the Paris-based luxury goods conglomerate has ever had – Kering cited Alessandro Michele’s wildly buzzy Gucci as a key performer.
With revenue up a reported 27.2 percent over last year, and its luxury offerings, in particular, up 29.9 percent from 2016, Kering chairman and CEO François-Henri Pinault called 2017 “a phenomenal year.” Speaking of Gucci, Pinault says the recently re-vamped house, which is busy courting the millennial consumer, exhibited “performance that was nothing short of spectacular.”
Saint Laurent, under the direction of new(ish) creative director Anthony Vaccarello, “is on a rapid growth track,” he says. For the final quart of 2017, YSL “delivered its seventeenth consecutive quarter of above-20 percent revenue growth.” And do not forget Demna Gvasalia’s “Balenciaga is charting an impressive development trajectory.” In fact, according to Kering, Balenciaga “delivered the fastest growth rate of all Group brands in the second half” of 2017.One final figure to consider: Net income, which surged 119.5 percent in 2017.