Gucci, Kering Group's leading luxury house, reached its peak revenue in 2022, when it delivered a global sales revenue of 10.5 billion euros. Most recently, Gucci reported 7.65 billion euros worth of annual revenue across its worldwide operations.

In 2024, Kering's Gucci brand generated a global revenue of about 7.65 billion euros. Kering S.A. is a French international luxury group founded in 1963 by François Pinault. The company is based in Paris, France. Kering had a total revenue of approximately 17.2 billion euros in 2024. Kering Group Kering’s portfolio includes brands specialized in the design, making and selling of luxury clothing products, including leather goods, apparel, shoes, watches, and jewelry. The luxury brands owned by the group include Gucci, Balenciaga, Alexander McQueen, Bottega Veneta, and Yves Saint Laurent. The company also owns shares of the famous German sports brand, Puma. In 2004, the group acquired shares in Stella McCartney’s eponymous brand, however it sold them back to its founder in 2018. Gucci has been the greatest contributor to the Kering Group’s revenue over the past number of years. The Italian luxury brand has a strong social media presence and has dressed contemporary style icons such as Harry Styles and Rihanna. The brand value of Gucci alone amounted to 10.2 billion U.S. dollars in 2019. The Kering Group diversified its portfolio through Sport & Lifestyle brand Puma. The sports brand’s global revenue amounted to 4.65 billion euros in 2018, and is among the largest sporting goods manufacturers in the world. How long Puma will remain a part of Kering is unclear, as the company announced that it would sell its majority stake in the sportswear brand in 2019.

In 2020, the Italian fashion company Guccio Gucci S.p.A. reported a net profit worth just over one billion euros. This figure represented approximately 47 percent decrease compared to the previous year, when the company registered a net profit of approximately two million euros.

An Italian success story

The numbers shown in this graph only refer to the net profit of the company’s Italian subsidiary located in Florence. In the meantime, the Gucci brand, now owned by the Kering Group, generated over 9.7 billion euros worth of revenues in 2021 and was valued at over 15 billion euros in the same year.

Foreign groups shopping for Italian brands

Acquired by Kering Group in 1999, Gucci was one of the first Italian luxury brands to be sold to larger international corporations. Thanks to several strategic acquisitions over the course of its history, the Group has become a superpower in the luxury sector, ranking second among the leading luxury companies in terms of global sales.

The Kering Group, which owns the fashion houses Gucci, Saint Lauren, Balenciaga, and Bottega Veneta among others, has increased its e-commerce revenue since 2019. In the fiscal year 2021, revenue generated through e-commerce channels made up of 15 percent of the group's total retail sales. This share was particularly higher in the North American and Western European markets, at 23 and 26 percent, respectively.

Gucci is one of the most iconic and well-known luxury personal goods brands in the world. The company operates all over the world. As of 2024, 33 percent of the Gucci’s revenues were generated in the Asia-Pacific market. How did Gucci’s product line develop? Gucci was founded in Florence, Italy in 1921. The company started out as a leather goods manufacturer, dealing primarily in the sale of leather bags to people travelling on horseback. As methods of transport changed, so too did Gucci’s product offering. The company started making luxury luggage and later added ties, shoes, and handbags to its product line. Gucci products turned into status symbols as many famous people started wearing them. Nowadays, Gucci offers a range of different luxury fashion products, with half of the brand’s worldwide revenue coming from the sale of leather goods. Shoes, ready-to-wear apparel, watches, and jewelry are the other main product categories of Gucci, however they also sell other products such as perfume and home décor. Gucci: an iconic fashion label Gucci is one of the most valuable luxury good brands in the world. The company has changed ownership on a few occasions and is now part of the Kering Group. Gucci is the most well-known luxury fashion brand in the United States.

In 2022, e-commerce sales of the Kering Group rose by 11 percent on a comparable basis to 2021. The group owns the luxury houses Gucci, YLS, Bottega Veneta and Balenciaga among others. The total revenue of the luxury group in 2022 was reported at 20.35 billion euros.

The Luxury Retailing industry has thrived over the past few years, despite challenges posed by the COVID-19 pandemic. Australian luxury retailers have been relatively insulated from the financial instability that has affected most of the global retail sector during the pandemic. The pandemic both positively and negatively impacted luxury retailers. Store closures and lockdowns drastically reduced instore sales, while travel limits decreased revenue from international travellers. However, housebound consumers were compensated by indulging in luxury purchases usually made on overseas trips. Social payment packages supported this spending. The pandemic forced luxury retailers to embrace a digital movement that had been long overdue and establish an online presence. This allowed luxury retailers to profit from the pandemic-induced online shopping boom. Rising household discretionary income and market polarisation have stoked demand for luxury products until 2021-22. Overall, ever-changing consumer preferences have attracted diverse luxury brands to seek opportunities in Australia, boosting the number of enterprises over the period. The strength of the domestic luxury market has attracted international fashion houses like Louis Vuitton to expand their physical footprints in Australia, especially in Sydney and Melbourne, with a greater focus on capturing international visitors’ attention at airports. Post-pandemic revenge spending has allowed retailers to increase prices, countering business inflation and yielding higher profit margins. However, due to rising cost-of-living pressures, consumers are becoming more conservative with their spending. As a result, industry-wide revenue is expected to grow at an annualised 3.8% over the past few years through 2024-25, to total $7.7 billion, with revenue expected to grow a mere 1.3% in 2024-25. Going forward, industry revenue is projected to increase at an annualised 5.5% over the next few years, reaching $10.0 billion by 2029-30. This growth will be fuelled by increased discretionary income, improved consumer sentiment and a recovery in inbound tourism. Intensifying industry competition will arise from flagship stores investing in exclusive products and customer service. Emerging luxury brands targeting wealthy tourists will significantly shape the industry, benefiting independent boutiques that can readily adopt new and niche labels.

In 2023, the revenue of the luxury goods market in India was worth about **** billion U.S. dollars in India. A decline in revenue was seen for 2020 and 2021. However, it is forecast to increase between 2024 and 2028. Indian luxury fashion brands Indian luxury fashion brands have gained global traction in recent years due to their designs. Their designs include a unique blend of traditional craftsmanship with a modern aesthetic. Sabyasachi Mukherjee is a well-known Indian fashion designer renowned for his opulent bridal wear. His designs offer vibrant colors, distinctive jewelry, and a fusion of Indian textile heritage. Ritu Kumar is another pioneer of Indian luxury fashion brands. Her designs showcase a wide range of traditional weaves, prints, and embroideries. Ritu Kumar has established a global presence with flagship stores in Paris, London, and New York. Global luxury fashion retail landscape Luxury brands are seen as symbolic representations of identity and social belonging. Moreover, major global luxury brands like Louis Vuitton, Christian Dior, Hermès, and Gucci have established their presence in India, initially focusing on metro cities like Delhi and Mumbai. Among them, Gucci and Armani were the most preferred luxury fashion brands for Indian consumers.

In the fiscal year ended March 30, 2024, Versace had global revenues of approximately one billion U.S. dollars, a slight decrease on the previous year. Over the displayed time period, the revenue of Versace has increased, starting at roughly 840 million dollars in 2020. Who owns versace? The Italian luxury fashion brand Versace is now owned by Capri Holdings Limited, after being acquired towards the end of 2018. Capri Holdings was formerly called Michael Kors Holdings and has a portfolio of brands including Michael Kors and Jimmy Choo. The revenue of Capri Holdings Limited amounted to more than 5.65 billion U.S. dollars in the financial year 2024. With the exception of financial year 2021, revenues have remained consistent since 2020. How well known is Versace? In a ranking of the most recognized luxury brands worldwide in 2022, Versace ranked 13th out of 60 brands considered. This was higher than fellow Capri Holdings brand Michael Kors. Other luxury fashion groups LVMH and Kering both had several brands ranked higher than Versace, such as Gucci and Saint Laurent for Kering, and LVMH’s brands Louis Vuitton, Dior, and Fendi. Louis Vuitton was ranked as the most valuable luxury brand by a considerable margin in 2023, at 125 billion U.S. dollars.

This statistic shows the retail sales of handbags in the United States from 2010 to 2021. In 2021, U.S. retail sales of handbags amounted to approximately 13 billion U.S. dollars, a considerable increase on the previous year.

Women's handbags in the U.S. – additional information

The global personal luxury goods industry – which includes cosmetics, fragrances, watches, jewelry, luggage, and women’s handbags to name a few – has been one of the major pillars of the luxury industry for years. This industry is the second most valuable luxury market, only behind luxury cars. In 2021, the global market for personal luxury goods was valued at around 283 billion euros. The United States is, by far, the most valuable personal luxury goods market in the world. In 2020, the American luxury personal goods market was valued at roughly 55 billion euros. In comparison, the second largest luxury goods market in the world was Mainland China, valued at 44 billion euros.

Accessories are amongst the most important segments in the luxury goods industry, as they held about 36 percent of the global luxury goods market share in 2020. In the U.S., the women’s accessories market has been fairly profitable in the last few years. Since 2013, sales of women’s accessories have generated over 30 billion U.S. dollars in revenues each year. Within the U.S. accessories market, handbags and purses are one of the most important products. Brands such as Chanel, Gucci, Louis Vuitton, Hermès, and Michael Kors are some of the leading players in the handbag market throughout the United States.

In 2023, Chanel’s worldwide brand value amounted to approximately **** billion U.S. dollars, an increase on the previous year. The worldwide brand value of Chanel experienced a positive trend in the time period between 2017 and 2023, and growing by ** percent in the most recently reported period. One hundred years of success Chanel, a century-old fashion house based in Neuilly-sur-Seine, France, produces high-fashion clothing as well as luxury items and accessories, most notably the popular fragrance Chanel No. 5. The company is one of the most valuable luxury brands worldwide, alongside other luxury fashion giants such as Louis Vuitton, Hermes, and Gucci. Chanel’s value correlates with its wide popularity. Among U.S. consumers, the company was one of the top well-known luxury fashion & accessory brands. Continuous growth The popular French fashion house experienced uninterrupted growth in revenues in recent years as well as a steep increase in brand development.