FRANCE: Luxury drives PPR Q3 sales growth
French retail group PPR has reported "satisfactory" third-quarter sales growth, helped by rising revenue at its luxury brands.
Sales from continuing operations increased 16.3% to EUR2.6bn (US$3.35bn) during the third quarter. On a like-for-like basis, sales climbed 6.6%.
The luxury division, which includes brands like Gucci, Bottega Veneta and Yves Saint Laurent, saw revenue jump 24.3% with fashion and leather goods up 11%.
Sales increased 31% at Bottega Veneta and 33% at Yves Saint Laurent, while Gucci saw sales climb 16%. Other luxury brands saw sales growth of 45.6%, while on a like-for-like basis, revenue was up 15.5%.
PPR said Gucci sales in Asia-Pacific edged up only 2%, while Western Europe saw sales rise 14% and North America posted an 11% increase.
Bottega Veneta and Yves Saint Laurent saw considerably more sales growth in the Asia-Pacific region.
Meanwhile, PPR's sports & lifestyle division saw sales rise 5% and fall 1.2% on a comparable basis. Revenue at Puma rose 6% and remained flat on a like-for-like basis.
Chairman and CEO François-Henri Pinault said: "PPR has again delivered a highly satisfactory performance overall this quarter with revenue for the luxury and sport & lifestyle divisions climbing 6.6%. The luxury division continues to report outstanding growth propelled by the momentum of our brands across all of the group's regions."
French luxury and sportswear group Kering (formerly known as PPR) saw first-quarter revenue edge up 1%, driven by growth in its luxury division....
Skatewear brand Volcom is set to increase its focus on sustainability, becoming the latest Kering-owned brand to undergo an Environmental Profit and Loss. ...
The online and luxury segments are set to provide a silver lining in what is an otherwise gloomy outlook for Australia's fashion industry, according to research released by IbisWorld. ...
French luxury group Kering has closed the sale of its Vertbaudet and Cyrillus children and family clothing brands to the Alpha Private Equity Fund 6 for EUR119m (US$153.9m)....
French luxury group PPR, which will be renamed Kering in June, has acquired French crocodile skin company France Croco. ...
French apparel group PPR is changing its name to Kering as it looks to position itself as a luxury and sportswear business....
French apparel and luxury group PPR is reportedly considering changing its name to Kering as it looks to focus on its luxury and sportswear businesses....
PPR's Redcats division has entered an agreement to sell its apparel and homeware brands Ellos and Jotex to Nordic Capital Fund VII for EUR275m (US$365m). ...
- Synergies Worldwide CEO unravels sourcing shifts
- Bangladesh still needs reforms to fix factories
- First figures show Bangladesh exports climb
- Rana Plaza three years on – Timeline of change
- Why have US FTA imports fallen to a record low?
- Hanesbrands to buy Pacific Brands for $800m
- BHS lacks relevance as it files for administration
- US Q1 in brief: Carter's, Columbia Sportswear, Ske
- Improving traceability a key industry challenge
- Aeropostale delisted from New York Stock Exchange