On Monday, French luxury goods group Kering SA (KER.PA) Kaiyun Group announced that it will repurchase up to 1.0% of its shares in the next 12 months in response to the share repurchase plan at the end of April.
The first batch of 631,000 shares repurchased, the repurchase price is not higher than the highest transaction price of 480 euros at the shareholders' meeting day, the lowest price is not less than 300 euros, the first batch of Newchic Coupon repurchase, the total price will not exceed 300 million euros.
Concerned that the Sino-US trade war and the slowdown in global economic growth have once again affected the luxury goods market, on October 4 and October 10, the luxury goods industry suffered consecutive stock market crashes in the first two weeks of this month. The traditional luxury goods giants’ share prices were in the first half of the year. A double-digit plunge was recorded.
However, following the European stock market on October 23, Kaiyun Group announced its super-anticipated third-quarter results, and despite the sharp slowdown, Gucci Gucci, which has gained market recognition, the share price of Kaiyun Group rebounded by only 7% in the past week. Last Tuesday's closing price of 353.10 euros rose to 377.40 euros on Friday.
After the repurchase plan was announced, the share price of Kaiyun Group opened 1.85% higher on Monday at 384.40 euros, then at 2%, it rose 3.21% to 389.50 euros in early trading, and then oscillated around 384 euros.
Data show that Gucci recorded a 35.1% growth in July-September, although it was the lowest in two years, but still exceeded market expectations, especially the brand CEO Marco Bizzarri under the video warning during the Paris Fashion Week, and Brand performance also significantly ahead of the competition, LVMH Moët Hennessy Dacoz Louis Vuitton SE (MC.PA) Lu Wei Xuan Group organic leather increased 14% in the same period. In the third quarter, Gucci's actual sales increased by 34.9% to 2.906 billion euros, compared with 1.5538 billion euros in the same period of last year, of which retail business grew by 35.0%, wholesale business grew by 36.3%, and the base of the extremely small e-commerce channel grew by 70%. From January to September, the brand revenue was 5.948 billion euros, an increase of 35.6% from the 4,639,300 euros in the first nine months of 2017, a comparable increase of 40.8%.
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