Gucci sales rise on North American strength

May 09, 2018 243

American shoppers helped Gucci start off the year with a bang. Revenue at the Italian fashion house rose 38% in the first quarter to EUR1.87 billion ($2.3 billion), Kering SA, Gucci's corporate parent, said Tuesday. Excluding the effect of a stronger euro, revenue rose 49%.

Sales in North America, mainly the U.S., led the way, rising 64%, Kering said. The results mark another quarter of robust growth for Gucci, which has become the world's second-largest luxury brand by sales, surpassing Hermès and behind only Louis Vuitton.

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