Friday, 30 April 2010

PPR’s Revenue Rose 1.2 Percent – 30/4/10


The luxury industry seems to be on a high, with PPR announcing that their first quarter revenue has increased by 1.2 percent, due to strong sales of its Gucci and Bottega Venetta brands, especially in China.

PPR, which sold its African distribution business CFAO last year to refocus on its luxury and lifestyle businesses, said revenue rose to €4.13 billion (AU$5.9 billion) from €4.08 billion (AU$5.83 billion) a year earlier.

Revenue at its Gucci Group subsidiary, which contains brands like Yves Saint Laurent as well as its namesake Gucci brand, rose 4.7 percent to €894.8 million (AU$1,278 billion), with a gain of 9.5 percent at Bottega Veneta.

PPR’s CEO, Francois-Henri Pinault, said he expects PPR to "deliver a healthy progression in operating and financial performances in 2010."

Click here to read more at Business Week.

Image courtesy of Zimbio.com. It shows Francois-Henri Pinault
Posted by Anonymous at 6:03 am
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