It seems that the more "Gucci" Gucci gets, the more it grows. With every collection and ad campaign, Alessandro Michele leans further and further into his retro-maximalist aesthetic, and rather than tire of it, customers ostensibly can't get enough.
For the first quarter of fiscal 2018, the Kering-owned brand saw a 48.7 percent jump in comparable sales, with revenue totaling €1,866.6 million (about $2.2 million). That follows sales growth of 44.6 percent in 2017. Gucci's continued rise isn't just attributed to one channel or category either; it's evenly spread: All categories saw growth, while sales in directly operated stores grew 50 percent, wholesale grew 43.6 percent, and e-commerce grew in the triple digits, meaning it more than doubled — unsurprising given all that the brand has put into its digital strategy.
Saint Laurent is definitely being overshadowed by Gucci in these Kering reports lately, but it's still doing just fine, with comparable revenue up 19.6 percent to €408.2 million (about $500 million) in the first quarter.
Kering also noted that its couture and leather goods category saw a sharp rise in sales, driven by "excellent performance" at Balenciaga.
"Under its new Luxury pure player profile, the Group clearly outperformed a market that remains well oriented," said CEO François-Henri Pinault in a statement. "Gucci, Saint Laurent and Balenciaga set a high mark within a Group that delivered sharp growth as a whole."