Kering aims to double Saint Laurent sales in medium term

French luxury group Kering aims to double sales at its smaller but fast-growing fashion brand Yves Saint Laurent to 5 billion euros ($5.36 billion) in the medium term, it said in slides after the first day of an investor presentation on Wednesday.

Saint Laurent posted revenue of 2.52 billion euros in 2021, up 46% from a year earlier. The group also targets higher profitability for the label in the medium term, with an EBIT margin seen rising to 33% from 28.3% at the end of last year.

The group is due to hold a presentation on its main label and profit engine, Gucci, on Thursday.

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Gucci sales totalled 9.73 billion in 2021 and the brand is under market scrutiny as it has suffered more than rivals during a recent round of lockdowns in China.