Sales of its flagship Gucci brand helped Kering beat sales expectations in China in the face of fears of an economic slowdown in the country. The Paris-based company reported a 23.3% sales rise to €3.8bn ($4.3m) in Q4 2018, ahead of a Bloomberg forecast of 22%. Like-for-like sales were just over 28% ahead, slower than earlier in the year but still better than rivals. The firm’s positive comments about China echoed those from other luxury Chinese fashion brands, in contrast to the gloomier forecasts from carmakers and technology firms.
Sales of its flagship Gucci brand helped Kering beat sales expectations in China in the face of fears of an economic slowdown in the country. The Paris-based company reported a 23.3% sales rise to €3.8bn ($4.3m) in Q4 2018, ahead of a Bloomberg forecast of 22%. Like-for-like sales were just over 28% ahead, slower than earlier in the year but still better than rivals. The firm’s positive comments about China echoed those from other luxury European fashion brands, in contrast to the gloomier forecasts from carmakers and technology firms.