French luxury goods group Pinault Printemps Redoute Sa has reported a 23 per cent rise in first quarter revenues from the 5.5bn euros ($4.9bn) recorded in the first three months of 2000 to 6.76bn euros ($6.05bn) in 2001.

Revenues from the group luxury division saw a massive 65 per cent rise to 667m euros from the 404m euros recorded in the same period last year.

The group also recorded a like-for-like sales increase of 13 per cent, which it attributed to the continued success of the Italian fashion house, Gucci.