PPR shows luxury strong despite market jitters
26/10/2012
Its fashion and leathergoods sales, of which 75% are attributable to Louis Vuitton, grew 5% in the third quarter, although this was less than the 8% growth in the second quarter and 12% growth in the first.
PPR CFO Jean-Marc Duplaix attributed the slowdown partly to China’s uncertain political backdrop, after analysts suggested demand was waning. There has also been a shift in tastes among Chinese consumers, who are starting to favour subtler, less logo-centric goods.
"We see that the taste is going for more sophisticated products and the market is tougher but we believe we have the right strategy for Gucci," Mr Duplaix told analysts on a conference call.
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