Kering aims to double YSL sales in medium term
Kering revealed customers, communication, products, operations and distribution are the key areas to nurture the future growth of Yves Saint Laurent. The group looks to expand YSL's global footprint, with America and Europe to remain "highly relevant" to the business and plans to increase focus on local customer growth and retention.
For product, Kering aims to focus on leather goods, which makes up the majority of YSL's sales. The group also hopes to drive desire and narrative through ready-to-wear collections. Along with shoes as a "second growth engine".
The expansion and optimisation of production categories will also help to support growth and protect margins.
Additionally, Kering emphasised its ambitions across sustainability under its climate change, biodiversity animal welfare, people in the supply chain and circular innovation pillars. This includes the launch of animal-free fur from Autumn 2022.
In the first quarter of 2022, Kering's group revenue totalled £4.1 billion (€4.9 billion). Revenue from Yves Saint Laurent rose by 43% to £627 million (€739 million), with sales in directly operated stores up 49% and double-digit growth in all product categories.