2016 First Quarter revenue 21 April 2016 2018 First Quarter revenue April 24, 2018
DISCLAIMER This presentation does not constitute an offer of securities for sale in the United States of America or any other jurisdiction. Certain information contained in this document may include projections and forecasts. They express objectives based on current assessments and estimates of the Group’s executive management which are subject to numerous factors, risks and uncertainties. Consequently, reported figures and assessments may differ significantly from projected figures. The following factors among others set out in the Reference Document (Document de Référence) filed with the French Financial Markets Authority (Autorité des Marchés Financiers - AMF) on March 28, 2018 which is available on Kering’s website at www.kering.com may cause actual figures to differ materially from projected figures: any unfavourable development affecting consumer spending in the activities of the Group in France and abroad, notably for products and services sold by the Luxury Goods and Sport & Lifestyle brands, the events, crises, fears, and resulting costs of complying with environmental, health and safety regulations and all other regulations with which Group companies are required to comply; the competitive situation on each of our markets; exchange rate and other risks related to international activities; risks arising from current or future litigation. Kering gives no commitment to updating and/or revising and/or commenting any projections and forecasts, or their impact on the results and perspectives of the Group, which may be contained in this presentation. The information contained in this document has been selected by the Group’s executive management to present Kering’s 1 st quarter 2018 revenue. This document has not been independently verified. Kering makes no representation or undertaking as to the accuracy or completeness of such information. None of the Kering or any of its affiliates representatives shall bear any liability (in negligence or otherwise) for any loss arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. IN NO WAY DOES KERING ASSUME ANY RESPONSIBILITY FOR ANY INVESTMENT OR OTHER DECISIONS MADE BASED UPON THE INFORMATION PROVIDED IN THIS PRESENTATION. INFORMATION IN THIS PRESENTATION, INCLUDING FORECAST FINANCIAL INFORMATION, SHOULD NOT BE CONSIDERED AS ADVICE OR A RECOMMENDATION TO INVESTORS OR POTENTIAL INVESTORS IN RELATION TO HOLDING, PURCHASING OR SELLING SECURITIES OR OTHER FINANCIAL PRODUCTS OR INSTRUMENTS AND DOES NOT TAKE INTO ACCOUNT YOUR PARTICULAR INVESTMENT OBJECTIVES, FINANCIAL SITUATION OR NEEDS. BEFORE ACTING ON ANY INFORMATION YOU SHOULD CONSIDER THE APPROPRIATENESS OF THE INFORMATION HAVING REGARD TO THESE MATTERS, ANY RELEVANT OFFER DOCUMENT AND IN PARTICULAR, YOU SHOULD SEEK INDEPENDENT FINANCIAL ADVICE. ALL SECURITIES AND FINANCIAL PRODUCT OR INSTRUMENT TRANSACTIONS INVOLVE RISKS, WHICH INCLUDE (AMONG OTHERS) THE RISK OF ADVERSE OR UNANTICIPATED MARKET, FINANCIAL OR POLITICAL DEVELOPMENTS AND, IN INTERNATIONAL TRANSACTIONS, CURRENCY RISK. READERS ARE ADVISED TO REVIEW THE COMPANY'S REFERENCE DOCUMENT AND THE COMPANY'S APPLICABLE AMF FILINGS BEFORE MAKING ANY INVESTMENT OR OTHER DECISION. 2 24.04.2018
Q1 2018 REVENUE: PURE PLAYER DELIVERS SUPERIOR GROWTH DISCONTINUED KERING TOTAL HOUSES CORPORATE & OTHERS OPERATIONS** CONTINUING OPERATIONS PUMA: Q1 18: €2,999m Q1 18: €3,108m Q1 18: €109m Q1 18: €1,135m Q1 17 PF: €2,445m Q1 17 PF: €2,352m Q1 17 PF: €93m Q1 17: €1,009m Other: +27.1% reported +27.5% reported +16.8% reported Q1 18: €106m +36.8% comparable* +27.2% comparable* +36.5% comparable * Q1 17: €120m OUTSTANDING COM PARABLE REVENUE GROWTH ON A CHALLENGING COM PARISON BASE +36.5% +37.0% +35.7% +33.9% +29.7% +28.6% +28.4% +27.4% +24.6% Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Kering as previously reported Kering Pure Player (pro forma in 2017) % comparable revenue growth * At constant scope and exchange rates ** For Q1 18, Puma, Volcom and Stella McCartney are treated as discontinued operations (IFRS 5). To reflect this, 2017 figures have been restated of Puma, Stella McCartney and Volcom (PF = Pro Forma). See appendix for full details 4 24.04.2018
TOTAL HOUSES Q1 2018 revenue: 2,999 M€ +27.5% reported; +36.8% comparable REVENUE CHANGE BY REGION AND CHANNEL REVENUE BREAKDOWN BY REGION (in €m, and comparable growth in %) (on total Q1 revenue, in %) RoW +30% +2% 2,999 7% +40% 2,352 Western Europe 32% -7% Asia Pacific 34 % North America 18% Japan Q1 2017 FX impact Retail Wholesale Royalties Q1 2018 9% and others CREATIVITY AND INNOVATION DRIVE REMARKABLE Q1 ON TOUGH COMPS AND FX DRAG OUTPERFORMANCE IN A FAVORABLE ENVIRONMENT • Further strength in retail (+40%), all regions up high double digit • Brand emotion spread across all touchpoints to create and ‒ North America and APAC leading, up 54% and 42% respectively. Acceleration in fuel customer engagement Hong Kong and Macau, Mainland China sustained • Healthy organic growth, well balanced across regions and ‒ Japan posting a very strong performance, Western Europe remains solid despite nationalities, driven by like-for-like and selective store softer tourism trends with locals robust overall openings ‒ e-commerce revenue more than doubled • Number of DOS at end of March: 1,347 (continuing • Wholesale up 30%: broad-based appreciation of collections; good operations) quarter in watches ‒ 11 net openings during the quarter • FX a significant hit 5 24.04.2018
GUCCI Q1 2018 revenue: 1,867 M€ +37.9% reported; +48.7% comparable REVENUE CHANGE BY REGION AND CHANNEL REVENUE BREAKDOWN BY REGION (in €m, and comparable growth in %) (on total Q1 revenue, in %) RoW 7% Retail (85% of sales): +50% +44% 1,867 Western Europe +59% +49% 28% -4% +43% +64% +44% Asia Pacific 1,354 37 % North America 20% Q1 2017 Western North Japan Asia RoW Wholesale Royalties Q1 2018 Japan Europe America Pacific and others 8% OUTSTANDING PERFORMANCE ACROSS THE BOARD DRIVING HEALTHY, CONSISTENT GROWTH • Retail up 50% driven by LfL and full-price sales • Balanced by product categories and customer age groups ‒ all categories and nationalities up strong double digit • Solid carryover base along with appetite for newness; acclaimed Fall ‒ Winter 18/19 Show on high comps, growth led by North America and APAC, further strength in Japan and sustained momentum in Western Europe • Continuous transformation and innovation, new organizational model ‒ online sales up triple digit, driven by the US • Inauguration of Gucci ArtLab on April 19 • Wholesale up 44% on unwavering success of Alessandro • Continued rollout of new store concept Michele’s collections • Number of DOS at end of March: 533 6 24.04.2018
SAINT LAURENT Q1 2018 revenue: 408 M€ +12.0% reported; +19.6% comparable REVENUE CHANGE BY REGION AND CHANNEL REVENUE BREAKDOWN BY REGION (in €m, and comparable growth in %) (on total Q1 revenue, in %) RoW 6% Retail (63% of sales): +15% +3% 408 +32% Asia Pacific +24% +17% 29% +23% Western Europe +27% 364 36% -1% Japan Q1 2017 Western North Japan Asia RoW Wholesale Royalties Q1 2018 8% North America Europe America Pacific and others 21% FURTHER SOLID GROWTH DELIVERING ON STRATEGY • Retail up 15% on very high comps • Fashion leadership further enhanced by the Winter 18 ‒ double-digit increases in all regions ex. Western Europe Fashion Show in the iconic Paris setting of Trocadéro impacted by slower Asian tourism spending • Very successful introductions of new products in all ‒ Excellent performance in North America, Japan and APAC, categories; continued performance of carryovers particularly Hong Kong • Ongoing selective expansion of retail network • Another strong quarter for wholesale (+32%) driven by • Western Europe Number of DOS at end of March: 190 7 24.04.2018
BOTTEGA VENETA Q1 2018 revenue: 261 M€ -6.8% reported; +0.7% comparable REVENUE CHANGE BY REGION AND CHANNEL REVENUE BREAKDOWN BY REGION (in €m, and comparable growth in %) (on total Q1 revenue, in %) RoW 6% Retail (84% of sales): +2% Western Europe 280 25% -13% 261 +11% +6% +6% +11% -4% -11% Asia Pacific 42 % North America 10% Q1 2017 Western North Japan Asia RoW Wholesale Royalties Q1 2018 Japan Europe America Pacific and others 17% COMPARABLE GROWTH UP SLIGHTLY NEW MILESTONES • • Retail up 2% on tougher sequential comparison base Growing visibility thanks to impactful communication strategy, enhanced store network (Opening of NY Maison on Madison Ave) ‒ Western Europe impacted by deceleration in Chinese tourism and updated visual merchandising (windows, in-store animation) ‒ North America up double-digit driven by locals and tourists • Appetite for newness in Leather Goods confirmed; to be broadened ‒ APAC improving driven by Macau and Hong Kong recovery and further amplified throughout the year ‒ Japan robust supported by tourism • Very positive trends in Ready-to-Wear; rebalancing the collections’ • Small decline in wholesale; sell-out trends improving architecture in Women’s Shoes • Number of DOS at end of March: 271 8 24.04.2018
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