Kering reports strong fiscal performance for 2021
Luxury group Kering saw revenue reach 17.6 billion euros in 2021, surpassing pre-pandemic levels as retail operations expanded.
Luxury conglomerate Kering released its 2021 financial results, showing significant growth compared to 2019. The group generated total revenue of 17.6 billion euros, representing a 13 percent increase over pre-pandemic figures. Recurring operating income reached a record 5.0 billion euros, fueled by strong demand across its portfolio.
Growth was primarily driven by directly operated retail stores and an expanding online presence, with e-commerce now accounting for 15 percent of total retail sales. In contrast, wholesale revenue declined slightly, reflecting the company’s ongoing strategy to limit third-party distribution and maintain brand exclusivity.
CEO François-Henri Pinault stated that the performance demonstrates the strength of the group's houses, including Gucci and Yves Saint Laurent. The board has recommended an increased dividend of 12 euros per share as the company looks to maintain its current momentum.