The European luxury goods house, Gucci Group NV, has posted a 7.8% leap in year-on-year third quarter sales to Eur695 million – fuelled by the popularity of its Gucci leather goods and footwear collections.

The Italian group reported a 17% increase in operating profit to Eur90.9 million for the three months ended October 31 2003.

Revenues were up across all divisions, in particular the core Gucci division where sales rose 4.9% to Eur373.1 million and profits increased 3.3% to Eur260.6 million. Leather goods sales leapt 7.8% to Eur170.3 million while footwear revenues rose 7.4% to Eur44.7 million. In constant currency terms, leather goods and shoes revenues together grew 45% during the quarter.

Domenico De Sole, Gucci Group NV’s president and chief executive officer, said: “This has been a great quarter for the group, led by Gucci’s outstanding sales and profit growth. The Chain horse-bit handbag and Fall ready-to-wear collections have been driving traffic into Gucci stores, generating strong sales worldwide. With 20% constant currency retail sales growth in the US and Europe (excluding Italy) and with strong double digit growth in Japan and Asia, Gucci is one of the best performing luxury brands in the world.”

Looking forward, De Sole predicted a strong performance for the Gucci Group in the fourth quarter and full year 2003.

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