PPR Luxury pole reports 22,8% increase in turnover for the first 9 months
The luxury pole of French group PPR, which includes among other brands Gucci and Bottega Veneta, reported a turnover of 3,5 billion euros for the first 9 months of 2011, an increase of 22,8% compared to the same period of 2010. (analysts expecting a 19% growth rate). CEO Francois Henri Pinault confirmed all brands and product lines in all geographical reagiona reported positive results.
Gucci continues to be the best performing brand of PPR luxury pole, reporting a 20% increase in its turnover for the first 9 months of 2011, reaching a total of 2,2 billion euros. Bottega Veneta closed the first 9 months of 2011 with an increase of 31,7 %, with a turnover of 483 million euros.
Of all the group brands, Yves Saint Laurent, which had been underperforming in the past years, reported a record increase in its turnover for the first 9 months of 2011, reaching a turnover of 250 million euros. The rest of the PPR luxury pole brands (Stella McCartney, Alexander McQueen, Boucheron, Balenciaga, Sergio Rossi) reported a turnover of 528,7 million euros for the first 9 months of 2011, an increase of 25,5 %.