Kering Sa · EURONEXT:KER
Kering Sa — Kering Sa Ord — Q1 2024 Earnings Presentation
20 slides from Kering Sa's earnings presentation, Apr 24, 2024
Slide 1: 2024 First Quarter Revenue
2024 FIRST QUARTER REVENUE APRIL 23, 2024
Slide 2: Disclaimer
DISCLAIMER This presentation does not constitute an offer of securities for sale or an invitation or inducement to invest in securities in France, in the United States of America or in any other jurisdiction. Certain information contained in this presentation may include perspectives and trends or o
Slide 3: Slide 3
Slide 4: Q1 Group Revenue
Q1 24 GROUP REVENUE KEY HIGHLIGHTS REVENUE CHANGE (in €m and comparable change YoY) • REVENUE -11% REPORTED, -10% COMPARABLE – ADVERSE MACRO BACKDROP – W EAK TRAFFIC W EIGHING ON RETAIL -11% reported – W HOLESALE DOW N 5,077 – FX HEADWIND, POSITIVE SCOPE FROM CREED +2% 4,504 -10% -3% • REGIONAL TREN
Slide 5: Q1 Group Revenue by segment and region
Q1 24 GROUP REVENUE REVENUE BREAKDOWN BY SEGMENT REVENUE BREAKDOWN BY REGION (in €m) (as a % of Q1 24 total revenue and YoY reported change) Change (%) Q1 24 Q1 23 RoW Western Europe Revenue Revenue Reported Comp. 9% (+2pt) 27% (+2pt) Gucci 2,079 2,616 -21% -18% Saint Laurent 740 806 -8% -6% Bottega
Slide 6: Q1 Group Revenue by Channel and Region
Q1 24 GROUP REVENUE BY CHANNEL AND REGION -11% R E T AI L I N C L . E - C O M M Y o Y D I R E C T L Y O P E R AT E D S T O R E S 1,781* 74% WESTERN NORTH JAPAN ASIA ROW EUROPE AMERICA PACIFIC -9% -11% +16% -19% +6% WHOLESALE WHOLESALE ROYALTIES 26% LUXURY BRANDS KERING EYEWEAR & OTHER W H O L E S AL
Slide 7: Gucci Q1 Revenue
Q1 24 REVENUE: -21% REPORTED, -18% COMPARABLE (in €m, and YoY comparable growth in %) 2,616 +5% 2,079 -19% -7% 90% of sales Q1 23 Retail Wholesale Royalties Q1 24 and others • TRANSITION IN COLLECTIONS — Weak traffic, Asia Pacific the main drag — New collections ramping up as planned, representing l
Slide 8: Saint Laurent Q1 Revenue
Q1 24 REVENUE: -8% REPORTED, -6% COMPARABLE (in €m, and YoY comparable growth in %) 806 -4% +27% 740 -25% 78% of sales Q1 23 Retail Wholesale Royalties Q1 24 and others • GOOD RESILIENCE IN RETAIL — Sequential improvement in W.Europe, N.America and Japan, challenging market conditions in Asia Pacifi
Slide 9: Bottega Veneta Q1 Revenue
Q1 24 REVENUE: -2% REPORTED, +2% COMPARABLE (in €m, and YoY comparable growth in %) +9% 395 +4% 388 -25% 84% of sales Q1 23 Retail Wholesale Royalties Q1 24 and others • STRONG RETAIL PERFORMANCE — DD growth in North America, W. Europe and Middle East, resilience in Asia Pacific — Acclaimed collecti
Slide 10: Other Houses
OTHER HOUSES Q1 24 REVENUE: -7% REPORTED, -6% COMPARABLE (in €m, and YoY comparable growth in %) 890 +3% 824 -25% -10% 72% of sales Q1 23 Retail Wholesale Royalties Q1 24 and others • RETAIL UP 3%, WHOLESALE DOWN 25% • SOFT LUXURY — Balenciaga: retail trends improving in W.Europe and Japan; N.Americ
Slide 11: Kering Eyewear and Corporate
KERING EYEWEAR AND CORPORATE Q1 24 REVENUE (in €m, and YoY growth in %) +7% +73 536 +8% 463 433 -1% Q1 23 Comparable FX Q1 24 Other Q1 24 Kering Kering Kering Eyewear Eyewear Eyewear and Corporate • STRONG START TO THE YEAR IN EYEWEAR — Growth across key brands, Europe and Asia Pacific leading the w
Slide 12: Conclusion
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Slide 13: Q&A
Q&A
Slide 14: Appendix
APPENDIX
Slide 15: Gucci Q1 2024 Revenue: Quarterly Performance
Q1 2024 REVENUE €2,079m -21% REPORTED, -18% COMPARABLE DIRECTLY OPERATED STORES REVENUE BREAKDOWN BY REGION As of March 31, 2024 (net change vs. YE 23) RoW Western Europe RoW Western Europe 65 (-3 net) 103 (0 net) 8% 23% Asia Pacific North America Asia Pacific 184 (+1 net) 534 39% 111 (-1 net) North
Slide 16: Saint Laurent Q1 2024 Revenue: Quarterly Performance
Q1 2024 REVENUE €740m -8% REPORTED, -6% COMPARABLE DIRECTLY OPERATED STORES REVENUE BREAKDOWN BY REGION As of March 31, 2024 (net change vs. YE 23) RoW RoW 27 (+1 net) Western Europe 9% Western Europe 70 (+1 net) 31% Asia Pacific Asia Pacific 114 (0 net) 311 30% Japan North America Japan North Ameri
Slide 17: Bottega Veneta Q1 2024 Revenue: Quarterly Performance
Q1 2024 REVENUE €388m -2% REPORTED, +2% COMPARABLE DIRECTLY OPERATED STORES REVENUE BREAKDOWN BY REGION As of March 31, 2024 (net change vs. YE 23) RoW Western Europe RoW 23 (0 net) 62 (+3 net) 10% Western Europe 25% Asia Pacific North America Asia Pacific 115 (+1 net) 292 34% 49 (+1 net) Japan Japa
Slide 18: Other Houses Q1 2024 Revenue
OTHER HOUSES Q1 2024 REVENUE €824m -7% REPORTED, -6% COMPARABLE DIRECTLY OPERATED STORES REVENUE BREAKDOWN BY REGION As of March 31, 2024 (net change vs. YE 23, incl. scope) RoW Western Europe RoW 34 (+3 net) 133 (+2 net) 8% Western Europe 29% Asia Pacific 626 North America Asia Pacific 291 (+4 net)
Slide 19: Kering brands list
Gucci • Saint Laurent • Bottega Veneta • Balenciaga • Alexander McQueen • Brioni Boucheron • Pomellato • Dodo • Qeelin • Ginori 1735 Kering Eyewear • Kering Beauté
Slide 20: a Cuusg olin
a Cuusg olin