T h i r d Q u a r t e r s a l e s. 24 October 2013

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1 20 T h i r d Q u a r t e r s a l e s 24 October 20

2 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 notably 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 April 18, 20 which is available on Kering s website at 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; the impact of current or future public regulations; 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 have been selected by the Group s executive management to inform about the Q3 20 sales. 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. 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

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4 Q s a l e s Group revenue up 3.4% comparable Revenue in m Q3 Revenue Reported Change % Comparable 9M Revenue Reported Change % Comparable Luxury 1, % +5.6% Sport & Lifestyle % -0.9% Other Kering total 2, % +3.4% 4, % +7.1% 2, % -2.4% , % +3.9% Luxury division: softer trends in Q3 Implementation of Gucci s exclusive distribution and product strategy impacting short-term performances Very solid trends at Bottega Veneta and Saint Laurent, driven by retail sales Sport & Lifestyle division: continued difficult trend in a tough environment Overall performances in line with Puma s FY sales guidance New management team at Puma 4

5 Luxury division Q r e v e n u e : 1, M % c o m p a r a b l e ; % r e p o r t e d X%: comparable growth 1,593 M +3% +5% +14% +4% +21% 1,617 M Q Western Europe North America Japan Asia Pacific Other Countries Q3 20 % of Q3 sales 35% 18% 10% 30% 7% Solid growth in retail sales, up 8% in Q3 Wholesale up 2%, reflecting further streamlining of distribution Well-balanced growth across all regions: mature markets up 5%, emerging markets up 7% Fashion & Leather goods sales up 6% 1,116 DOS as of September 30, 20 (39 net openings in Q3, plus 53 Pomellato DOS) 5

6 Q r e v e n u e : M % c o m p a r a b l e ; % r e p o r t e d X%: comparable growth 915 M -2% +3% +10% -2% +16% 865 M Q Western Europe North America Japan Asia Pacific Other Countries Q3 20 % of Q3 sales 31% 18% 9% 36% 6% Positive retail trends (+4%). Wholesale negative (-9%), impacted by more selective approach to distribution Strong retail sales of handbags (+6%), on success of no logo leather lines (Bamboo Shopper, Lady Lock) Contrasted regional trends: Asia Pacific performance reflects short-term impact of push towards greater product exclusivity Robust performances in Japan and US (retail up 6% ex Hawaii) Western Europe impacted by weight of Italy 461 DOS as of September 30, 20 (6 net openings in Q3, plus 9 North America wholesale buybacks) 6

7 Q r e v e n u e : M % c o m p a r a b l e ; % r e p o r t e d X%: comparable growth +21% +25% 259 M 242 M +12% +5% +23% Q Western Europe North America Japan Asia Pacific Other Countries Q3 20 % of Q3 sales 32% % 14% 37% 4% Strong performance driven by excellent retail momentum (+18%) Leather goods category very solid (+18%). Men s lines further fuelling brand awareness and growth Sustained sales momentum across all regions 215 DOS as of September 30, 20 (6 net openings in Q3 ) 7

8 Q r e v e n u e : M % c o m p a r a b l e ; % r e p o r t e d X%: comparable growth +12% +12% +41% +6% +6% 9 M 0 M Q Western Europe North America Japan Asia Pacific Other Countries Q3 20 % of Q3 sales 44% 21% 8% 19% 8% Retail sales consistently gaining momentum (+15%), reflecting successful roll-out of new store concept Outstanding performance of ready-to-wear (+41%), further highlighting relevance of the brand s return to its fundamentals Strong brand momentum boosted by significant editorial coverage 110 DOS as of September 30, 20 (6 net openings in Q3 ) 8

9 Other Luxury brands Q r e v e n u e : M % c o m p a r a b l e ; % r e p o r t e d X%: comparable growth +4% +7% +9% +14% +29% 354 M 307 M Q Western Europe North America Japan Asia Pacific Other Countries Q3 20 % of Q3 sales 45% 18% 8% 16% % Performance led by designer brands, up double digit Acceleration at Balenciaga Steady growth at Brioni Hard Luxury: Boucheron up double digit, trends in timepieces more volatile 330 DOS as of September 30, 20 (12 net openings in Q3, plus 53 Pomellato DOS) 9

10 Sport & Lifestyle division Q r e v e n u e : M % c o m p a r a b l e ; % r e p o r t e d X%: comparable growth 970 M -3% +5% -5% -3% -1% 896 M Q Western Europe North America Japan Asia Pacific Other Countries Q3 20 % of Q3 sales 33% 23% 8% % 23% Division performance broadly in line with first-half trend, impacted by Puma footwear sales Mid single-digit growth in apparel and accessories Positive trends at Volcom brand (+2%), driven by strong sales of newly introduced footwear styles 10

11 Q r e v e n u e : M % c o m p a r a b l e ; % r e p o r t e d X%: comparable growth 892 M -2% +5% -6% -1% -1% 825 M Q Western Europe North America Japan Asia Pacific Other Countries Q3 20 % of Q3 sales 34% 20% 8% % 25% Adverse currency impacts continue to weigh on sales performance, exacerbated by volatility in emerging market currencies Solid retail performance, up 6% Footwear trends unchanged; accessories and apparel up 7% and 4%, respectively Additional steps in implementation of Transformation Plan 11

12 Q r e v e n u e Conclusion Luxury: Consistent strategy to fully leverage the growth potential of our brands and markets Sport & Lifestyle: Focus on Puma Transformation Plan and brand relaunch Focus on margins in a tougher short-term market environment 12

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14 GUCCI BOTTEGA VENETA YVES SAINT LAURENT ALEXANDER McQUEEN BALENCIAGA BRIONI CHRISTOPHER KANE McQ STELLA McCARTNEY SERGIO ROSSI BOUCHERON DODO GIRARD-PERREGAUX JEANRICHARD POMELLATO QEELIN PUMA VOLCOM COBRA ELECTRIC TRETORN