PPR S.A., owner of Gucci Group reports 13% sales increase in the third quarter
French holding companyPPR S.A., owner of GUCCI GROUP, reported this week a 13% increase in third quarter sales, reaching a level of EUR 4.46 billion. ”Each of PPR’s luxury brands increased sales at least 10 percent in the quarter”, Chief Executive Officer Francois-Henri Pinault said in the statement. The third quarter increases the company’s confidence of a stronger full-year “operating and financial” performance, he said.
Gucci Group’s sales in emerging markets, including the Greater China region, rose 24 percent in the quarter. Overall, sales at the luxury unit climbed 27 percent. PPR aims to sell its Fnac, Redcats and Conforama retailing businesses and use the proceeds to develop its Gucci Group luxury division.