Kering’s Q3 consolidated revenue in 2017 is up 23.2 per cent. Acceleration in luxury sales was driven by Kering’s network of directly operated stores. Online sales expanded nearly 80 per cent and appeal for the group's luxury fashion houses was strong with both local customers and tourists from all nationalities and in all regions.
Wholesale distribution also saw robust growth of 21.7 per cent, with substantial contributions from Gucci, Yves Saint Laurent and Balenciaga. With new collections and reworked iconic lines, luxury jewelry brands also posted solid growth. Boucheron, Pomellato, Dodo and Qeelin performed well, both across their directly operated networks and in wholesale distribution channels.
Watchmakers enjoyed very encouraging growth over the quarter. The new models launched by Girard-Perregaux and Ulysse Nardin were very well received among customers, particularly in Western Europe and the Middle East.
Puma delivered another excellent performance for the quarter, with double-digit growth on a comparable basis across all key regions. Revenue for the brand rose 13.2 per cent as reported and by 17.3 per cent on a comparable basis. The brand also fared well in all distribution channels, with robust growth across all product categories, notably shoes and accessories.