Luxury fashion house Gucci has reported operating profits of €65 million for the second quarter of this year ending July 31. This equates to well over double the profits of €26.8 million in the same quarter in 2003. 

The company - which is now controlled by French company Pinault Printemps Redoute – has credited the large increase in profits to higher sales of its Yves Saint Laurent branded goods, which can only be a good indication of the rise of the leather goods sector.

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