The revenue of luxury fashion brand Kering during Q3 2020 outperformed analysts’ expectations. According to the research data analyzed and published by Stock Apps, its consolidated revenue sank by 1.2% quarter-over-quarter (QoQ) and 4.3% year-over-year (YoY) to €3.72 billion in Q3 2020. This was a significant rebound from Q2 2020 when the brand posted a 43.5% decline YoY.
Gucci was its worst hit house, as its sales dropped by 12.1% YoY to €2.09 billion. However, based on the Lyst Index, it was the hottest brand in Q3 2020.
Gucci Page Views Shoot Up By 52%, Clinches First Spot on Lyst Index
Kering’s leading region during the quarter was North America, where it had a 44.1% increase in sales. Asia Pacific followed with 18.5%. On the other hand, revenue from Western Europe dropped by 41% and 22% in Japan.
Similarly, Gucci brand posted a 43.7% increase in North America and 10.6% in APAC. But in Western Europe, its sales dropped by 47.3% and 25.9% in Japan. The uneven performance was due to a lack of tourists in Western Europe and Japan. Notably, Gucci’s online sales soared by 12.6% as its wholesale revenue sank by 31.6%.
Among Gucci’s highlights for the quarter was the Epilogue Collection livestream. It drew a worldwide audience of more than 35.2 million viewers across various platforms. Moreover, Gucci’s page views on Lyst surged by 52% YoY during the quarter.
On the other hand, Bottega Veneta’s revenue for the period was €332.5 million, up by 17% YoY. Its online sales rose by 101.9% and its wholesale sales by 63.4%. Yves Saint Laurent’s revenue was €510.7 million, up by 0.8% YoY. Its retail sales rose by 5.8%, online sales more than doubled and wholesale revenue jumped by 3.4%.
Other Kering Houses revenue increased by 9.3% YoY with retail sales up by 10% and wholesale sales rose by 16.7%. Its corporate and other segments had a 10.1% YoY increase in revenue with Kering Eyewear in the lead.