NEW YORK — After French retail-to-luxury group PPR reported its second quarter earnings last Friday, the Bottega Veneta division put out a separate statement this week to break out its earnings and outline growth so far this year.
For the first half ended June 30, the brand’s recurring operating income rose 42.1 percent to 82 million euros, or $115 million at average exchange.
Sales in the second quarter rose 26.4 percent to 141 million euros, or $197.7 million.
According to the company, much of the growth came as a result of double-digit increases in the Asia-Pacific region, Europe and the U.S., as well as maintaining the business in Japan throughout the crisis there.
For the first half, total revenue grew by 29.2 percent to 298 million euros, or $417.9 million, which was driven particularly by the brand’s retail channel. In the first six month of this year, Bottega Veneta opened nine new boutiques, bringing the number of directly operated stores to 157.
“I am [pleased with] our business performance in the first half of the year,” Bottega Veneta president and chief executive officer Marco Bizzarri said. “Our investment strategy, which is well balanced in the emerging markets and in Europe, United States and Japan, has been instrumental in achieving these excellent results.”