Saint Laurent's Revenue Has Doubled Since Hedi Slimane Came On Board

French luxury conglomerate Kering, which owns renowned brands such as Saint Laurent and Gucci, has

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French luxury conglomerate Kering, which owns renowned brands such as Saint Laurent and Gucci, has announced its annual earnings. Although its revenue grew 4 percent over 2014, its profit dropped 5 percent, from €1.75 billion EUR (approximately $1.99 billion USD) in 2013 to €1.66 billion EUR (approximately $1.89 billion USD). Despite the drop in profits, it has been reported that Saint Laurent has doubled its revenue in the three years since Hedi Slimane took the reins as creative director. In 2014, sales rose 27 percent to €707.3 million EUR (approximately $807 million USD) for Saint Laurent, and also showing growth is Bottega Veneta, accounting for a 13 percent increase in revenue to €1.13 billion EUR (approximately $1.17 billion USD). However, a lot is riding on the turnaround at Gucci, which just named Alessandro Michele as its new creative director and Marco Bizzari as the new chief executive. As Kering’s biggest luxury brand at €3.5 billion EUR in revenue this past year, sales have been gradually sliding, and the luxury conglomerate is surely hoping that Gucci sees a revival bearing semblance to that of Saint Laurent’s.

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