Kering Q1 Report 2022

Group revenue rose sharply in the first quarter of 2022, up 27% as reported and up 21% on a comparable basis year-on-year. The difference is primarily due to foreign exchange translation, as scope was broadly neutral, the consolidation of Lindberg offsetting the disposal of the Group’s watches activities.

Revenue from directly operated stores were up 23% on a comparable basis year-on-year and up 32%
relative to the same period in 2019.

• Sales growth was supported by very strong momentum in Western Europe, North America, and Japan. In Asia-Pacific, sales were affected by new lockdowns in certain major Chinese cities.
• Online sales continued to grow during the quarter and accounted for 15% of total direct sales.