French lyxkonglomeratet Kering with a variety of exclusive fashion brands in the portfolio, reported unexpectedly strong earnings for 2016. Operating profit rose 14.5 percent to eur 1.9 billion, corresponding to almost 18 billion Swedish kronor. Turnover, in turn, increased 8.1 percent to eur 12.3 billion.
Behind the lift is particularly strong sales figures for lyxmärket Gucci, which rose 21.4 per cent in the fourth quarter compared with the same period of the previous year and significantly more than the 13 percent that analysts had predicted, according to Reuters. Even Yves Saint Laurent strongly contributed, as sales rose 20.5 percent in the fourth quarter.