Gucci’s revenues climbed back above 2019′s pre-pandemic levels
Updated: Mar 25
Gucci’s revenues climbed back above 2019′s pre-pandemic levels, Paris-based owner Kering said as it reported sales and profit Thursday. It’s a key milestone in the group’s turnaround after years of explosive growth at the flagship brand came crashing down during the pandemic.
Overall, Kering’s 2021 sales grew 35 percent year-on-year to €17.65 billion, up 13 percent over 2019. Fourth-quarter sales growth beat estimates by 12 percent.
Going forward, Kering says it plans to focus on further developing its range in menswear, which has been a growth driver for luxury brands. The group plans to cut out online wholesale for all its brands in favour of developing its brand’s own e-commerce sites, as well as cutting deals to operate “e-concessions” on multi-brand sites.
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