FRANCE: PPR Posts 6.3% Q3 Sales Increase
Upmarket goods group PPR has reported a 6.3 per cent rise in third-quarter sales, boosted by continued demand for the Gucci fashion label.
Third-quarter sales grew 7.5 per cent to €4.2 billion, which included a 15.3 per cent increase in luxury goods sales to €784.7m and a 5.8 per cent rise in retail sales to €3.4m.
Chairman and chief executive officer François-Henri Pinault said: "PPR's sales growth in the third quarter underscores the relevance of our strategic choices and positioning in our two core businesses.
"In luxury goods, almost all of our brands continued to report strong sales growth…while the comparative base becomes higher with each passing quarter.
"We are therefore confident as we enter the last quarter of the year, which is also the most important for our businesses."
PPR, which deals in both luxury goods and distribution, is home to well-known fashion labels including Gucci, Yves Saint-Laurent, Sergio Rossi, Balenciaga, Bottega Veneta, Alexander McQueen, and Stella McCartney.
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