“Over the course of the first quarter, China returned to be an engine of growth, driving a solid sales rebound in Asia Pacific,” the group’s new Chief Executive Andrea Guerra said in a statement on Thursday.
“Our priority for the year remains increasing store productivity, focusing on retail execution,” he added.
In the Asia Pacific region, excluding Japan, retail revenues grew by 22% in the period. The group said China showed an acceleration towards the end of the quarter supported by an easier comparison basis.
In the Americas, where other luxury groups had already flagged a slowdown in the pace of growth, retail sales were up 5% at constant exchange rate in the first quarter. In Europe they rose 28%.