It's difficult to believe that come January, it'll have been two years since Alessandro Michele took the creative lead at Gucci. While editors, retailers and consumers alike immediately latched onto the house's refreshed, vintage-inspired aesthetic, it's taken a bit longer for Gucci's sales figures to catch up. That's not to say that its business hasn't grown, however: In the first and second quarters of 2016, Gucci's comparable sales grew by 3.1 and 7 percent, respectively. Though based on the degree to which the brand has exploded across the industry, we were left to wonder: Why hasn't its lift been more meteoric?
But on Tuesday, Kering reported Gucci's most "remarkable" sales growth to date: In the three months ending on Sept. 30, comparable sales increased by 17.8 percent — up more than 10 percent from last quarter and 18.4 percent from the same quarter last year (when sales were down 0.4 percent). Sales were up across all product categories, excluding in Japan, which Kering noted saw "lackluster" market conditions for the sector as a whole. Interest from new customers continues to rise, while Gucci's e-commerce sales grew by more than 50 percent during the period. Kering gave the GucciGhost product line an individual shout-out as well, which it said represented the brand's "particularly innovative digital strategy."
Meanwhile, at Yves Saint Laurent, sales continued to skyrocket, with comparable revenue rising by 33.9 percent across all geographic regions and product categories. Despite Hedi Slimane's April departure, this growth has been par for the course for YSL: Comparable sales grew 24.2 percent in the first half of 2016, amounting to €548 million in revenue (about $607 million). YSL's new handbags, such as the Sunset Monogramme, proved to be especially popular.
It wasn't looking so rosy over at Bottega Veneta, which continues to struggle — due in part to slower tourism in Western Europe and Japan. Comparable sales were down 10.9 percent, though Kering noted that it continues to implement the brand's action plan.
Also of note from beneath the Kering umbrella: Puma saw a slight lift following its collaborations with high-wattage celebrities including Rihanna, Kylie Jenner and Cara Delevingne. Comparable sales grew by 10.8 percent across the board, with its shoes category performing especially well — we're talking 17 percent growth. Guess we weren't the only ones clamoring over the Puma by Rihanna Creepers.