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Gucci Group Scores 20% Sales Rise in Opening Half
July 27th, 2006 @ 1:20 PM
Gucci Group posted a striking 20.3% rise in sales to €1.623 billion, or $2.045 billion, as the Gucci label itself grew by a slightly better rate and turnover at booming Bottega Veneta exploded four times as fast.
PPR, the French retail empire that controls Gucci Group, recorded a 7.7% rise in sales to €8.294 billion, or €1.045 billion.
In a release PPR called Gucci Group's performance "impressive" and said it confirmed the strength of all of its brands, the talent of its designers and the success of its new collections.
"Gucci Group boasted double-digit growth across all geographical areas," PPR stressed.
The house of Gucci put together a significant 21% rise in total sales to €978.9 million, or $1.233 billion.
Bottega Veneta slammed home a whopping 79% rise in sales to €116.8 million, or $147 million, powered on by the label's rapidly expanding retail network. BV opened eight stores in the first half including Tokyo and Cannes. Moreover, customer response was keen for BV's new jewelry and debut home furnishings collection.
Yves Saint Laurent wracked up an impressive 17% increase in business to 84.6 million Euros, led by a striking 62% boom in sales to department stores.
YSL Beaute continued to languish posting tepid 2% sales growth to €275 million, or $347 million. Though PPR struck a bullish note about YSL Beaute's upcoming second half launches - men's scent L'Homme Yves Saint Laurent, plus new cosmetic and skincare products.
The other brands – Balenciaga, Boucheron, Sergio Rossi, Bedat and Co, Stella McCartney and Alexander McQueen – together scored a 25% leap in sales to €168 million. PPR however does not break out the revenues of these smaller labels.
PPR said that these brands had shown "further improvement in sales thanks to the success of their collections, in line with targets."
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