Since the celebration of the new year Saint Laurent’s sales have been on the rise. Fashionista reported its sales were up 21 percent in March. Compared to last year the French brand’s sales have increased 39 percent in North American sales, 29 percent in Western European sales, and 22 percent in Japan sales.
What can be the reason for Saint Laurent’s sudden increase?
Ever since Hedi Slimane took the creative director position in 2012 the brands revenue has doubled.
In 2015 first quarter this brand was up 11 percent in overall revenue, totaling at about $2.9 billion.
The Saint Laurent line is owned by Kering who has seen increase in other brands such as Bottega Veneta, Stella McCartney, and Alexander McQueen have seen increases this year.
The same cannot be said for Gucci, Another Kering brand , that was not apart of this group. They have actually seen a 8 percent decline in sales.
Alessandro Michele was appointed the new creative director and Marco Bizzarri became CEO during Gucci’s downfall. Sales from Michele’s first ready-to-wear collection for Gucci won’t be reflected in sales reports until the third quarter of 2015.
Gucci received its best sales in handbags and with Michele being the former accessory designer, it is hopeful that he will improve Gucci’s sales says Fashion Times.
Kering’s chairman and chief executive officer, François-Henri Pinault, told British Vogue in February, “The transformations carried out in 2014, from both an organizational and operational standpoint, have allowed us to step up our responsiveness and achieve a greater degree of integration and specialization of our activities.”
Pinault is confident in his group that they will create profit and bring in a “cash flow.”
