Gucci'S Performance Has Been Better Than Expected In One Season.

Gucci

The season is still better than one season.

Although the product of Alessandro Michele has not yet fully covered the brand stores, as of the end of September, the three quarter of fiscal year 2016, Gucci still achieved a comparable growth rate of 17%.

Industry, even the public

It is also difficult to have a view.

But for the single quarter performance, Gucci's three quarter performance has been the peak of the current downturn economy and retail industry. If it can last for more than three seasons, it can even create the Gucci miracle after the Michael Kors myth.

The previous miracle of the brand was created by Tom Ford and Gucci Domenico CEO De Sole. In the hands of Domenico De Sole, in order to stop the acquisition of LVMH SE, the brand ushered in an external investor, who was still known as the "Sole" of the company.

Benefiting from the double digit increase of leather goods, footwear, clothing for men and women, the real income of Gucci in the three quarter increased by 17.8% to 1 billion 88 million 300 thousand euros in the three quarter.

Gucci CEO Marco Bizzarri & creative director Alessandro Michele

From the regional market, the impact of exchange rate fluctuations on Gucci and the entire luxury industry is still among the best.

In the three quarter, the Japanese market, which was weakened by the strong yen, was the weakest market in Gucci. The retail market in Japan recorded a comparable decline of 8%, which was the only market to fall; while China's leading Asia Pacific market with a continued decline in the value of RMB, the retail income of the Asia Pacific market rose by 31% per cent in the Gucci market; the Western Europe market showed a comparable growth rate of 22% in the retail market; moreover, in the three quarter of the year, Gucci finally conquered the North American market which had not been conquered, and the 22% increase was very important.

In addition, the group said Gucci's online revenue grew by 50%. The group did not disclose specific data on online revenue, but according to No Agency, an industry research consultancy firm, the online business share was no more than 2%.

Retail revenue accounted for 82% of Gucci's total revenue in the three quarter, while an increase of 9% in the wholesale income period. Authorized income fell by 19% as a result of the pition of the eyewear business.

Tang Xiaotang, founder of No Agency, said that according to the quarterly reports of LVMH SE and Burberry PLC, according to the quarterly report, the overall improvement of the luxury industry in the three quarter was achieved. In addition to the depreciation of the RMB, the Chinese market was rapidly warming. The referendum in Britain also stimulated the British market and pushed up the European market. The negative impact of the terrorist attacks continued in the two or three quarter of this year.

Tang Xiaotang said that the biggest surprise in the three quarter of the Gucci was the US market. "The first two quarters of the Gucci market were all down, and the three quarter was so high. Compared with the 25% decline of Burberry, it shows that Gucci has not only recovered the last important market but also gradually strengthened its ability to attack other brands."

However, he said the sustainability of the US market remains to be seen. After all, the brand has not been as good as its rival Louis Vuitton Louis Weedon in the US market.

At the end of last month, Tang Xiaotang wrote a special contribution to the non fashionable Chinese net, "how long can the new Gucci Gucci get red?" and analyze the reasons for the recovery of Gucci, and the problems and trends facing the luxury industry.

At the same time, Tang Xiaotang also predicted that Gucci's three quarter operating profit from its continuing business also had double-digit growth. "The Gucci quarter has shown good performance in the three quarter, but such a good performance has exceeded expectations."

Kering SA Kai Yun group does not disclose earnings data in quarterly reports, only in the China Daily and annual reports.

Gucci's strong growth in the three quarter spurred Kering SA's luxury department's three quarter 11.3% quarter growth in the three quarter, an increase of 12% in real terms, from 2 billion 114 million 900 thousand to 18.885 euros in the same period last year. The Yves Saint Laurent is still the most powerful brand in the sector, and the group has continuously pferred executives to other brands from YSL to help other brands of the group recover or grow.

However, the luxury department of Kering SA group is not smooth sailing. Gucci and YSL will inevitably involve the overall energy distribution of the group, and the second largest luxury brand Bottega Veneta Bao family is the biggest victim.

In the three quarter, the downturn of Bottega Veneta's family declined, but intensified.

In addition, the group's small brands, including Alexander McQueen, Balenciaga, Brioni, Christopher Kane, Stella McCartney and Tomas Maier, were also weak. In the three quarter, despite an increase of 2.5%, taking into account the overall improvement of the three quarter of the luxury goods industry, the growth rate still lost to the big market. The Department had already undergone frequent personnel changes, six major brands, total CEO, quit, three years, three changes, and the new generation of new products.

With the revival of the movement trend, Puma SE, a group holding company, also recorded a comparable increase of 10.8% in the three quarter, a real increase of 8.3% to 994 million 100 thousand euros.

The revival of Puma SE also stimulated the comparable growth rate of 9.3% of the Kering and SA group's sports and lifestyle sectors in the three quarter.

By the end of the three quarter of September, Kering SA opened a cloud group, earning 3 billion 184 million 700 thousand euros, an increase of 10.5%, a real increase of 10%. In the first nine months of this year, the Group recorded 88.776 euro billion euro income, an increase of 7.3%, a real increase of 5.6%.