PARIS – Kering is counting on its wealthiest customers to assist it meet up with its luxury sector peers during what's a transitional 12 months for its star brand Gucci.
The French luxury group, which also owns brands including Balenciaga, Saint Laurent and Bottega Veneta, reported Tuesday that sales inched up by 2 percent in the primary quarter, sharply lagging its larger competitors LVMH Moët Hennessy Louis Vuitton and Hermès International.
Revenues within the three months to March 31 totaled 5.08 billion euros, representing a rise of 1 percent in comparable terms, amid a decline in revenues in North America and a gradual recovery in China. The modest sales increase got here on the heels of a 2 percent decline within the...
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