Pinault-Printemps-Redoute SA's luxury goods division Gucci Group has more than doubled operating profit in the second quarter of the year.

Retail giant PPR said that the recently acquired division's operating profit increased to €65 million for the three months to the end of July, from €27m in the year-before period.

Revenue increased in all of Gucci's brands to a total of €641m compared to €584m in 2004.

Up-and-coming brand Bottega Veneta saw revenues rise 64 per cent to €25m, whilst Yves Saint Laurent cut its losses to €15m from €19m in the year-before period.

Operating profit for the Gucci brand increased 18 per cent to €103m, attributable to an 8.6 per cent revenue rise to €393m.

PPR's chief executive Serge Weinberg said that Gucci's new chief executive, Robert Polet, will outline new development plans before the end of the year