Sunday, 15 March 2009

The PPR Group Goes From Strength To Strength – 19/2/09

Despite analysts predicting profits at Gucci would go downhill, the luxury brand has performed better than expected. In fact, fourth-quarter sales at Gucci rose 3.4 percent. A New York Times article attributed this success to The stronger dollar and yen and continuing demand for luxury goods, especially in Asia.”

And Gucci is not the only PPR brand doing well. Seven of PPR’s eight luxury labels, including Balenciaga and Stella McCartney, also reported an operating profit last year.

PPR’s chairman and CEO, Francois Pinault, seemed pleased with the news. He said, “The crisis may affect the speed of our plans but not the overall strength of our group, which is solid.” So PPR may be slowing down, but as we all know, speed is not everything – slow and steady usually wins in the end.

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Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury,