Stock Groups

Kering aims to double Saint Laurent sales in medium term -Breaking


© Reuters. FILE PHOTO – Dresses, hats, and other creations on display at the new Yves Saint Laurent Museum Marrakech (Morocco), October 13, 2017. REUTERS/Youssef Bourdlal/File Photograph

PARIS (Reuters). – French luxury company Kering (EPA:) aims at doubling sales at its smaller, but still growing fashion brand Yves Saint Laurent up to 5 billion euros ($5.36billion) in the medium term. It said this in slides following Wednesday’s first investor presentation.

Saint Laurent reported revenue of 2.52 billion euros for 2021. This is 46% more than a year ago. The label’s profitability is also being increased, as the EBIT margin rose to 33% from last year’s 28.3%.

On Thursday, the group will present Gucci as its profit engine and main label.

Gucci Sales reached 9.73 Billion in 2021. Brand is currently under review as competitors have suffered more during recent China lockdowns.

($1 = 0.9321 euros)