The Reign Of Michele.
Until recently, Saint Laurent was Kering’s highest earner but Gucci has now taken that title. Gucci jumped up 43.4% in revenue in the first quarter of 2017, as well as receiving a 32% in “recurring operating margin”, generating over 60% of Kering’s overall profits. Fashionista‘s Maura Brannigan stated:
“Per Quartz‘s Marc Bain, Kering CFO Jean-Marc Duplaix reportedly told journalists on a call that the brand’s shoes and ready-to-wear for men and women saw “outstanding double- or even triple-digit growth” in the second quarter. This, of course, is no surprise; all those loafers, sneakers and slides have to add up to something.”
With the increase in streetwear fanatics sneaking Gucci sneakers over the last year, it definitely makes sense. Alessandro Michele’s came to Gucci with a bang and hopefully, he’s here to stay.