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 and leather 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.”
