[caption id="attachment_84662" align="aligncenter" width="657"] Source: Company reports[/caption]   1Q19 Trading report Kering reported 1Q19 revenues of €3.8 billion, with 21.9% growth on reported figures, or 17.5% on a comparable basis at constant exchange rates. Gucci’ revenue was up 20.0% on a comparable basis, with outstanding performance in Asia Pacific, existing and new products, and e-commerce. By channel, retail revenue was up 20% while wholesale was up 16% on stable number of doors. Saint Laurent had a solid start in 1Q19, with revenues up 17.5%, balanced growth across all regions and strong performance in both existing and new lines of leather goods. Bottega Veneta’s revenue declined 5.0% as reported and 8.9% on a comparable basis in 1Q19. The company said revenues from directly operated stores fell while wholesale performance also dipped. Kering’s other houses showed excellent growth momentum, up 21.7% on a comparable basis, driven by outstanding performance at Balanciaga and Alexander McQueen. Outlook The company did not provide quantitative guidance for 2019.

• Management remains confident in Kering' ability to leverage creativity and market leadership in 2019.
• Kering plans to bring its e-commerce business in house by 2020.