Luxury group Kering SA announced Thursday that its revenue for the second quarter of 2023 rose 2% to €5.06 billion. Meanwhile, the Group revenue for the first half of 2023 amounted to €10.1 billion.
The group's net income was €1.8 billion in the first half of 2023, while recurring operating income came in at €2.7 billion. Free cash flow from operations, excluding real estate sales and acquisitions, climbed 4% to €2.1 billion.
"In the first half, we pursued our investments in our Houses' desirability and exclusivity. While engaging in critical forward-looking initiatives, we maintained a high level of profitability. We also took some decisive steps to expand our footprint in the luxury universe, notably with the acquisition of the famed Creed fragrance house to accelerate the liftoff of Kering Beauté," François-Henri Pinault, Chairman, and Chief Executive Officer, said.
