Gucci powers forecast-beating sales growth in fourth quarter for Kering

The strong comeback by Gucci after a disappointing third quarter will come as a relief for Kering, as the label accounts for 60% of its revenues and around 70% of its profits

Kering reported sharp growth in fourth-quarter sales on Thursday, beating expectations over the holiday period as marketing investments and 100th anniversary events helped boost the popularity of its top Gucci brand.

Overall sales at the French luxury goods group rose 31.9% on a comparable basis to 5.41 billion euros ($6.14 billion) in the last three months of the year, powered by a 31.6% surge at Gucci that was almost double a 17% consensus forecast by analysts.

The strong comeback by Gucci after a disappointing third quarter will come as a relief for Kering, as the label accounts for 60% of its revenues