Kaiyun Group: Revenue Drops In 2020 And E-Commerce Business Accelerates Further

Recently, Kaiyun group, an international luxury goods group, released its financial report for 2020, which shows that its total revenue in 2020 is 12.676 billion euro, a year-on-year decrease of 17.6%; and its net profit is 21.5 euro, a year-on-year decrease of 6.9%.

Among them, the e-commerce sales of Kaiyun group further accelerated, increasing by 67.5%, accounting for 13% of the total retail network sales of the whole year. Wholesale revenue fell by 17.4% on a comparable basis, in line with the group's strategy of streamlining and making the channel more exclusive.

By brand, Gucci's revenue in 2020 will be 7.440.6 billion euro, a decrease of 22.7% compared with the same period of last year; online sales will continue to maintain a rapid growth, with an annual growth of nearly 70%; Yves Saint Laurent's revenue in 2020 will be 1.774.4 billion euro, with a year-on-year decrease of 14.9%; online sales will soar by nearly 80%, and wholesale revenue will decrease by 13.7%; Bottega Veneta's revenue in 2020 was 12.103 billion euro, a year-on-year increase of 3.7%.

In 2020, the total revenue of other brands was 2 281.3 million euro, a decrease of 10.1% year-on-year and 9.4% on a comparable basis. The results of Balenciaga and Alexander McQueen are very satisfactory, with revenue up year-on-year. Jewelry house was punished for its exposure in Western Europe, with strong sales growth in Asia. Thanks to a strong recovery in mainland China, Qeelin's sales have increased significantly in the past year. Baosteel has also performed well in the Asia Pacific region. For the year, "other homes" income from the retail network fell by 4.9%, while wholesale income fell by 13.0%.