Friday, 30 April 2010
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
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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, www.moluxury.com.au