PARIS — France’s Pinault-Printemps-Redoute on Tuesday gave more evidence that Europe’s luxury firms are enjoying hearty growth, reporting double-digit sales increases at its Gucci Group division in the two months since the departure of its star management and design duo, Tom Ford and Domenico De Sole.

Serge Weinberg, PPR’s chief executive, said sales at Gucci gained 17.7 percent on a comparable basis in May and June. “We are moving in the right direction,” Weinberg said in a conference call, commenting on PPR’s first-half sales, which fell 6 percent to 5.61 billion euros, or $6.89 billion, deteriorated by adverse currency translations and restructuring costs. Figures have been converted at average exchange rates for the corresponding periods.

From February though April, Gucci Group’s sales rose 4.9 percent to 595 million euros, or $731.7 million. At constant exchange rates, sales grew by 10.5 percent.

Gucci brand sales gained 4.6 percent to 334.7 million euros, or $411.6 million, while Yves Saint Laurent advanced 14.5 percent to 37.6 million euros, or $46.2 million. Bottega Veneta surged 48.1 percent to 21.8 million euros, or $26.8 million.

Sales at Sergio Rossi, the shoe house, rose 3.5 percent to 20.4 million euros, or $25.1 million. Gucci also runs the Boucheron jewelry business, Bedat & Co. watches and the fashion houses of Alexander McQueen, Stella McCartney and Balenciaga, all of which made “excellent headway,” PPR said.

By zone, Gucci Group’s highest comparable-sales gains were logged in America (19.1 percent), Asia (11.8 percent) and France (14.2 percent). Sales in the rest of Europe excluding France increased 4.9 percent.

Weinberg cited “exceptional” responses to the first post-Ford cruise collections by Gucci’s women’s wear designer Alessandra Facchinetti and Yves Saint Laurent’s Stefano Pilati, two of Ford’s underlings.

He said orders for their collections had surged 50 percent in the U.S. and 100 percent in Europe. He added that the response had been “positive” to John Ray’s debut men’s collection at Gucci, shown on the Milan runway in June, as well as to accessories created by Frida Gianni.

Pilati and Facchinetti both will make highly anticipated formal runway debuts in front of the critical press this fall.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus