Maker of Gucci, Puma sees sales rise despite market jitters

By on April 22, 2016

Photo: Gucci/Facebook
Photo: Gucci/Facebook

PARIS—French luxury goods and sportswear maker Kering says its sales rose 2.7 per cent in the first quarter of 2016 thanks to good demand in Western Europe, Japan and emerging economies.

The company, whose brands include Gucci and Puma, said when stripping out factors like currency shifts, sales were up an even stronger 4 per cent in the first three months of the year compared to the same time period last year.

Chairman and CEO Francois-Henri Pinault said “we are confident that we can extend our growth trajectory over the full year.” He said the sales growth was achieved despite a challenging market environment.

The global economy has been through a rough few months, with growth slowing in key markets like China, Brazil and other developing countries.