PPR Group exceeds financial expectations
The luxury division of PPR, the third largest luxury group worldwide reported healthy financial results for the first half of 2012. By contrast, the company’s sports and lifestyle division, which includes Puma, has shown less favourable results. The fashion division of PPR, which includes Gucci, Yves Saint Laurent (currently under major rebranding process), Bottega Veneta, Alexander McQueen, Balenciaga and Stella Mc Cartney, has reported a 16,7% increase in sales, totalling 6,38 billion euros.
At the level of the luxury pole, PPR reported a sales increase of 30,7% with a good level of sales across all regions, particularly emerging markets (37,8%). The sales growth rate in China has decrease from 16% to 18% in the first half of 2012. Puma has reported a mere increase of 9,2%, the company undergoing an ample strategy of optimizing costs and increasing profitability.