The French Luxury Brand Group Issued A 4.1% Increase Over The Same Period Last Year.

Less than p ago, the French luxury lifestyle and sports brand group Kering SA (KER.PA) Kai Yun group released its two quarterly report and semi annual report in fiscal year 2013.

According to the financial report, sales of Kai Yun group in the first half of fiscal year 2013 amounted to 4 billion 678 million euros, up 1.4% from the same period last year. Net profit was 582 million euros, up 4.1% over last year.

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< p > it is noteworthy that the main brand Gucci of the luxury sector of the group did not perform well in the two quarter, with sales of 888 million 900 thousand euros, up 1% from the same period last year, and the growth rate has slowed down.

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In the two quarter of fiscal year 2013, the sales volume of Kai Yun group was 2 billion 308 million euros, an increase of 1.6% over the same period last year. P

The total sales volume of the luxury sector is 1 billion 555 million euros, up 6% over the same period last year.

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< p > to slow down the growth of Gucci sales, Xue Shengwen, a senior researcher of CIC, believes that on the one hand, the global economic downturn and the demand for luxury goods have been greatly reduced, especially in the "main battlefields" of Gucci sales, the European and American markets. On the other hand, the excessive development of Gucci brands has led to a further increase in the gap between them and LV, Hermes and other brands.

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Zhou Ting, President of luxury goods expert and Research Institute of wealth quality, also expressed the same view. She thinks Gucci is more serious than LV. LV never discount, and insists on going straight line. Gucci has its own channel providers, and there are some discounts, which will only further reduce its brand value.

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< p > for Puma's performance continues to deteriorate, Kai Yun Group Chairman and chief executive officer Franois-Henri Pinault mentioned in the earnings report that Puma will continue to pform under the leadership of the new CEO Bjrn Gulden.

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< p > Xue Shengwen believes that Puma's reform under the leadership of the new CEO Bjrn Gulden will take time to verify.

The internal changes of Puma will not be completed overnight. We need to reform from the aspects of production, brand and operation mode.

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In the first half of fiscal year 2013, the sales volume of luxury group of Kai Yun group was 3 billion 78 million euros, up 5.3% from the same period last year.

Among them, Gucci sales amounted to 1 billion 755 million euros, an increase of 1.6% over the same period last year; Bottega Veneta sales of 466 million euros, an increase of 8.4% over the same period last year; Yves Saint Laurent sales of 255 million euros, an increase of 14.2% over the same period last year; other luxury goods sales totaled 603 million euro yuan, an increase of 10.9% over last year.

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In the first half fiscal year of P > 2013, the regional income of Kai Yun group outside the euro zone rose by 6.3%, accounting for 79% of the total revenue of the group, compared with 78% in the same period last year.

Kai Yun group said that the continued expansion of emerging market strategy, its income in the emerging market growth, an increase of 4.5%, the emerging market accounted for 39% of the group's total revenue, an increase of 10 basis points compared with the same period last year.

In the first half of fiscal year, EBITDA (net profit + Interest + income tax + depreciation amortization) increased 2.9% to 983 million euros, and EBITDA profit margin increased 30 basis points to 21%.

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< p > Xue Shengwen said that the net profit of Kai Yun group rose, and the pulling effect of Bottega Veneta and Yves Saint Laurent was larger.

For the performance of Kai Yun group in China, Xue Shengwen believes that the adjustment of Gucci and Puma can not be immediate. Under the market downturn, the effect needs to continue to be observed.

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