Kering Targets Asia in Online Retail Sales Push

PARIS — Kering sees a major opportunity in Asia as it prepares to wind down its joint venture with the Yoox Net-a-porter Group (YNAP) and bring its e-commerce activities back in-house in the second quarter of 2020. As it builds up its capabilities ahead of the switch, the French luxury group is focusing on growing the share of online sales done through its own brand web sites and virtual concessions, said Grégory Boutté, chief client and digital officer. “We recognize that e-commerce is going to grow really, really fast. It’s a critical part of the customer journey and engagement with our brands, and we want to make sure we control that experience, so we’re going to focus on expanding our online retail,” he told reporters ahead of a group investor day on Friday. In 2018, online retail revenue – which excludes wholesale business with e-tailers – totaled 626 million euros, or 4.7 percent of total revenues, at Kering, the owner of brands including Gucci, Saint Laurent, Bottega Veneta and Balenciaga. While Boutté declined to provide a target for increasing the proportion of online retail sales, he said the brand was working to convert its wholesale accounts to a concession model, in a move that

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