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Kering’s First-Half Performance Boosted by Gucci Turnaround

Kering said its reinvention of the Gucci brand is yielding ‘the first tangible results.’ Gucci...

In the first six months of the year, Kering’s total revenue rose 3.3% from a year earlier to €5.7 billion ($6.3 billion), while operating income rose 4.9% to €811.1 million.

Gucci, Kering’s largest brand, was behind much of the improved results, with a surprise 3.9% increase in revenue in the first half. In recent years, the brand had lost its allure, as logo fatigue and a hunger for fresher brands pushed its sales down.

Last year, it embarked on a makeover of the brand with a new designer and a new management team.

After a “massive brand reinvention, we see the first...