Confidence continues at PPR
France-based luxury goods group PPR has posted a 6.9% rise in net profit for 2009. Net profit totalled EUR984.6 million in the 12 months to December 31 compared with EUR921.1 million in 2008. However, sales fell 4% to EUR16.5 billion from EUR17.21 billion.
Revenues for its Gucci Group subsidiary, which comprises luxury fashion, shoe and leathergoods brands Yves Saint Laurent and Bottega Veneta as well the Gucci brand, fell 3.6% to EUR3.4 billion. However, sales rose 3.1% during the fourth quarter to EUR929.2 million.
PPR chairman and chief executive, François-Henri Pinault, said: “With an economic environment still in recovery mode, we must remain vigilant; however, we have started this new year with determination and confidence.
“While maintaining stringent management efforts, we are launching an energetic sales offensive aimed at further strengthening our leadership on the highest-growth markets, such as ecommerce and emerging countries, and at raising our business and financial performances in 2010.”
