French luxury group Kering has delivered accelerated sales at its Gucci brand, showing how the sector is prospering despite the Covid-19 pandemic.
The long-awaited comeback at the Italian fashion house helped the group beat analysts’ expectations for annual sales and operating profit and propose a record dividend of €12 a share for 2021, from €8 a share in 2020.
The luxury goods sector has shrugged off the economic shock of the pandemic with affluent consumers in the US and China, its two biggest markets, barely slowing their purchases of handbags, jewellery and clothing.
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