Kering aims to double Saint Laurent sales in medium term
2022.06.08 20:16
FILE PHOTO: Dresses and hat creations are displayed at the new Yves Saint Laurent Museum in Marrakech, Morocco October 13, 2017. REUTERS/Youssef Boudlal/File Photo
PARIS (Reuters) – French luxury group Kering (EPA:PRTP) aims to double sales at its smaller but fast-growing fashion brand Yves Saint Laurent to 5 billion euros ($5.36 billion) in the medium term, it said in slides after the first day of an investor presentation on Wednesday.
Saint Laurent posted revenue of 2.52 billion euros in 2021, up 46% from a year earlier. The group also targets higher profitability for the label in the medium term, with an EBIT margin seen rising to 33% from 28.3% at the end of last year.
The group is due to hold a presentation on its main label and profit engine, Gucci, on Thursday.
Gucci sales totalled 9.73 billion in 2021 and the brand is under market scrutiny as it has suffered more than rivals during a recent round of lockdowns in China.
($1 = 0.9321 euros)
