Gucci Is Still Losing Money. Saint Laurent Sales Are Gratifying.

Kering, the parent company of Gucci, announced its third quarter earnings after the closing of the stock market in October 22nd. In the 3 months ending September 30th, the group's revenue was 2 billion 895 million euros (about 20 billion 520 million yuan), an increase of 12% over the same period, an increase of 3.1%, breaking analysts' expectations.

Among them, Gucci, Balenciaga, Yves Saint Laurent, etc.

Compared with the same period last year, sales increased by 3.1% compared with the same period last year.

Sales of sports and lifestyle led by Puma increased by 3.4% compared to the same period last year.

Of all luxury goods, Saint Laurent's revenue is not the first (243 million euros, or 1 billion 720 million yuan), but it is the only brand to achieve full category and regional growth.

Even in the weak Asia Pacific market, Saint Laurent rose by 27%, and Japan achieved an astonishing 77% growth.

Luca Solca, a luxury analyst at Paris bank, France, commented: "the recent performance of luxury goods companies is poor, and the performance of the cloud makes the industry gasping for breath."

In his opinion,

The effort to design and store is likely to play a positive role in the fourth quarter of this year.

Gucci, the flagship flagship brand, created a revenue of 924 million euros (6 billion 530 million yuan) in the third quarter, accounting for 31.9% of the group's total revenue, an increase of 8.6% over the same period last year.

However, excluding currency interest rates and other factors, Gucci rose by -0.4% compared to 17% in Asia Pacific region.

Chief financial officer

In the conference call, the brand is still in pition, and the three series brought by the creative director Alessandro Michele are very popular. "The autumn and winter series in 2015 was just on the shelves in mid September, but the store responded well."

Perhaps in order to cooperate with the new design director, more than 30 shops will be renovated before the end of 2016, following the Gucci Napoleon Street store in Milan.

In addition, the official website of the brand is also taking a new look. In October this year, the new version of the official website of North America took the lead. The original high cold and serious style was replaced by a distinctive color.

From next year, Gucci.com in Europe, Australia and Asia will be gradually revised.

Unlike the two digit growth rate in the first half of this year, Bottega Veneta slowed down significantly in the third quarter, a year-on-year increase of 4.3%.

Among them, the Asia Pacific region has become the hardest hit area with revenue falling by 13%.

The European and Japanese markets rose by 33% and 15% respectively, but CFO said that the purchasing power of overseas Chinese tourists should not be underestimated.

In the luxury industry, both Hermes and LVMH are in the same situation.