French fashion house Kering drives luxury sales boom with sales at Gucci up 31% to £8.1 billion

Gucci accounts for about two-thirds of Kering’s revenue

Kering posted record sales last year thanks to growing demand for luxury goods. The French fashion house has been boosted by star brand Gucci, which has seen sales increase 31pc from a year earlier to £8.1bn.

Gucci, which accounts for about two-thirds of Kering’s sales, has bounced back from the pandemic as the return of international travel has brought affluent travelers back to stores.

The brand, which designs and manufactures bags, shoes and accessories, is also supported by a series of marketing and promotional events to celebrate its 100th anniversary. It launched a 100 Gucci collection including a Diana bag for £29,000, inspired by the late Princess of Wales’ favorite handbag in the ’90s.

Gucci’s profits jumped 42 per cent from a year earlier to £3.1 billion. It has helped Kering reach a total profit of £3.7 billion, up from £2.3 billion in 2020. Kering, which also owns Yves Saint Laurent, Balenciaga and Alexander McQueen, said overall revenue reached 14. 0.7 billion pounds in 2021, up 35% from 2020. Its shares in Paris are up 5.6 points.