In 2018, luxury fashion labels Gucci and Saint Laurent recorded a +36.9% and +18.7% increase in revenues, respectively, compared with the previous year, while revenues for Bottega Veneta were down -3.4% on a comparable basis, pending the inaugural collections from the new Creative Director.
Bottega Veneta’s revenue in 2018 was down -3.4% on a comparable basis and +5.7% as reported, while recurring operating income was -17.7% lower year-on-year at €242 million. Revenue from Kering’s other brands passed the €2 billion mark in the year, totalling €2,109.2 million, up +29.8% as reported and +32.1% on a comparable basis. “This excellent performance was led by Couture & Leather Goods, while Watches & Jewellery also posted solid revenue growth”, said Kering, adding that in Couture & Leather Goods, all product categories posted revenue growth in the year. Sales of the Watches brands are said to have advanced for the second year in a row.