Monday, 2 August 2010

The Goods News Still Rolls On, Profits Up At PPR - 2/8/10

Gucci Group - the most profitable group within PPR SA's stable, which accounts for 50 per cent of the group's operating profit and whose sales represent 20 percent - their operating profit rose by 23 per cent in the first half. Overall the PPR group - which also includes Bottega Veneta, Yves Saint Laurent, Puma and Fnac retail chain (to name a few) - according to Bloomberg said "first-half profit surged 87 percent as demand for clothing and accessories in Asia offset faltering wholesale revenue at the Gucci brand in North America."

The Group headed by billionaire Fran├žois-Henri Pinault, on Friday said that it had received “significant signs of interest” in the retail businesses that generate 63 per cent of group sales. Naturally Monsieur Pinault is pleased with these results and according to an article in the Financial Times, said "interest would deepen in the businesses he plans to sell after the group reported an 87 per cent rise in first-half net profits." Now that is certainly an interesting comment given that Gucci contributes 20 per cent. Doubt the gilded cash cow will be put up for sale anytime soon! We watch, we wait, we wonder.

Image credit: Salma Hayek and her husband 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,