Kering’s revenues rose by 21.4 percent year-over-year in the first quarter to €3,890 million, with comparable sales up by 25.8 percent driven by Asia-Pacific and North America.
The top line grew by 5.5 percent at constant exchange rates against the first quarter of 2019.
Comparable revenues generated by the group’s directly-operated networks climbed by 31.8 percent from the first quarter of 2020 and by 6.3 percent versus the first quarter of 2019. Online sales grew by 108 percent year-over-year in the quarter, driving the share of e-commerce to 14 percent of retail sales.
Comparable sales generated through the wholesale network were up by 8.9 percent in the quarter. The underpeformance is due to the group’s policy to streamline the distribution channel.