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Tuesday, 31st January 2006 (9110 views)

Sales of luxury goods helped to drive up profits for the PPR Group last year, new figures show.

Revenue from luxury goods hit $3.67 billion in 2005, a yearly increase of 15.9 percent.

This compares to retail revenue increases of just 2.8 per cent, with total revenue reaching $17.84 billion.

The PPR Group was hit by dampening consumer demand in the last quarter of 2005, with retail revenue growing just 1.9 per cent to $5.53 billion.

However, in a mark of the widening gap between luxury performance and general retail demand, fourth quarter sales of luxury goods were up by 16.3 per cent year-on-year, totalling $1.088 billion.

The PPR Group owns luxury labels Gucci, Bottega Veneta and Yves Saint Laurent, as well as the jewellery brand Boucheron.

Boucheron's celebrity fans include the singer-cum-footballer's wife Victoria Beckham.

 

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