FRANCE: PPR luxury brands boost 2012 profits
- Net income increased 6.3% to EUR1.05bn
- Revenue grew 20.8% to EUR9.7bn
- Luxury operating income grew 27.6% to EUR1.6bn
PPR is confident of continued growth in 2013, after posting a rise in 2012 net profit as strong sales of its luxury brands offset weakness in its sports division.
The company, which owns the Gucci, Yves Saint Laurent and Puma brands, today (15 February) said net income rose 6.3% during 2012 to reach EUR1.05bn (US$1.40bn) from EUR986m last year. Revenue grew 20.8% to EUR9.74bn.
Operating income in its luxury division rose 27.6% to reach EUR1.6bn as sales increased 21.2% to EUR6.2bn. On a comparable basis, sales increased 13.9%
However, operating income in its sports and lifestyle division fell 12.1% to EUR304.8m, with a 13% decline in Puma to EUR290m. Sales rose 10.6% to EUR3.5bn, and were up 7.6% on a comparable basis.
"PPR's results for 2012 are excellent, thanks to the exceptional performances of all brands in our Luxury Division," said chairman and CEO François-Henri Pinault.
"The significant growth potential of our brands is driven by their strength, the outstanding quality of their products and the rigorous development of their distribution channels. This potential was once again demonstrated in our luxury division in 2012 and we are striving to achieve the same dynamic in the sport & lifestyle division. Our strong performance also highlights the good geographic balance of our activities and the consistency of the group's strategy. In 2012, we completed further important steps in our transformation into a more international, dynamic and profitable group. We are confident that the strengthening of our assets and the determination of our teams will allow us to continue significantly improving our operating and financial performances in 2013."
More than 180 companies have now signed the Accord on Fire and Building Safety in Bangladesh following the collapse of the Rana Plaza factory building in Dhaka, which killed more than 1,100 people las...
MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
The report provides a review of M&As, capital-raising, partnering deals, and agreements entered into by retail companies during December 2012....
The recent garment factory tragedies in Bangladesh are pushing the industry towards a tipping point - as consumers call for increased sustainability and information about where their clothes come from...
Approximately 40 workers have fainted at a garment factory in Cambodia, allegedly after inhaling glue fumes. ...
Qatar-backed Tamburi Investment Partners (TIP) has completed its acquisition of French department store chain Printemps, in a deal that is estimated to be worth EUR1.8bn (US$2.4bn)....
- New wage ladder lifts workers towards living wages
- New scenarios driving sustainability in textiles
- US retailers to face logistics issues into 2015
- Uzbekistan forces more adults into cotton harvest
- African apparel sector needs cooperation to thrive
- Bangladesh worker dies as factory boiler ruptures
- Coats launches new services business in Vietnam
- Eight footwear factories lead on social compliance
- Global unions join forces on apparel wage poverty
- US firms eye Vietnam footwear growth ahead of TPP