“Kering achieved a record performance in the first three months of the year, posting a sharp acceleration in sales growth. Benefitting from somewhat more favorable market conditions, our strong delivery primarily stems from meticulous execution of our strategy and the creative audacity of our Houses. In a climate of persistent geopolitical and macroeconomic uncertainties, our first quarter puts us in a particularly good position for the balance of the year”, stated François-Henri Pinault, Chairman and Chief Executive Officer.

The first quarter of 2017 was marked by a sharp acceleration in growth across the group with revenue totaling 3 573.5 million euros. Major sequential increase driven by double-digit growth across all activities and all geographic regions excluding Japan.

Revenue generated by Luxury activities totaled 2 417.1 million euros in the first quarter of 2017, up by a sharp 34.0% as reported and 31.6% on a comparable basis, against a favorable base of comparison.

An excellent start to the year was also registered by the sport & lifestyle activities:  Puma’s revenue was up by 17.9% year on year as reported and 15.3% on a comparable basis; all product categories contributing to the brand’s ongoing growth momentum.

Sales growth in the group’s directly operated store network was particularly high, at 36.6% on a comparable basis, driven by remarkable performances in Western Europe and the Asia Pacific region, which reported retail sales increases on a comparable basis of 49.9% and 46.7%, respectively.  Growth in retail sales was also significant in North America and the Rest of the world, up 29.7% and 28.1%, respectively, on a comparable basis. Online sales leapt 60.1% on a comparable basis, underscoring the success of the digital strategies implemented by Kering’s Luxury Houses. Wholesale revenue climbed 20.2% on a comparable basis.