Puma helps drive Kering's Q3 sales

AP News
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Posted: Oct 23, 2014 12:34 PM

PARIS (AP) — Kering, the company Saint Laurent couture and Puma streetwear, says revenue grew 3.3 percent in the third quarter even as its Gucci brand continued to see sales slump.

Kering posted third-quarter revenue of 2.6 billion euros ($3.3 billion), led by its sports and lifestyle division of which Puma accounts for the vast majority.

Puma's "Forever Faster" campaign, which launched in August, helped drive strong sales of the brand's 2014 Autumn/Winter collection in Western Europe.

Gucci, whose couture and leather goods account for roughly half Kering's luxury division, posted a fifth-consecutive quarterly sales decline, with revenue falling 1.6 percent to 851 million euros.

In a statement Thursday, Kering said it "remains vigilant" in the face of uncertain market conditions.