PPR posted €3.3 billion revenue in Q1

In the first quarter of 2012, PPR posted €3.3 billion in

revenue from continuing operations, up 7.9% on a comparable basis and 15.4% on a reported basis versus first quarter 2011. The result was powered by the fast-paced growth of the group's businesses in emerging countries which now represent around 37% of revenue for the luxury and sport and lifestyle divisions. The brand recorded a sharp rise in consolidated revenue up 15% on a reported basis and the luxury division reported up 29%.

Revenue for the luxury division surged 29.1% on a reported basis, with double-digit growth in all geographic areas. The sport and lifestyle divisions reported a 14.6% increase in revenue on a reported basis. Overall, sales for the luxury and sport and lifestyle businesses climbed 23.2% on a reported basis and 11.6% in comparable terms.

The financial result of the first quarter was supported by good performance from all of PPR’s major brands. Like Gucci had a good start to the year, with sales up 12% in comparable terms and 16% on a reported basis. Directly-operated stores once again improved their contribution to revenue, advancing 13% in the quarter, and now accounting for three-fourths of Gucci's total sales. Online sales surged 30%, continuing to increase as a proportion of total revenue. All geographic areas reported growth, with Western Europe and North America up 10% and 9%, respectively. Gucci in Japan had a 16% jump in sales, while emerging markets continued to grow at a consistent pace, particularly Greater China, which was up 15%. Bottega Veneta’s revenue in the first quarter of 2012 jumped 33% on a comparable basis and 39% in reported terms. The brand's outstanding performance spanned all geographic areas: Western Europe (up 28%), North America (up 36%), Asia-Pacific (up 45%) and Japan (up 16%).

Yves Saint Laurent put in a bumper performance in first-quarter 2012, with sales soaring 40% on a comparable basis and 43% in reported terms, on the back of the successful autumn/winter collections as well as the well-received Cruise and women's spring/summer collections. Business was buoyant across the board with all regions and distribution channels reporting strong growth on a comparable basis: Western Europe (up 34%), North America (up 48%), Japan (up 53%) and Asia-Pacific (up 63%). In addition, royalties rose by around 15% compared to the first quarter of 2011, predominantly from fragrances and beauty.

PPR’s other luxury brands in the first quarter, posted comparable sales growth of 20% (71% in reported terms) with all brands and regions contributing to the performance: Western Europe (up 12%), North America (up 33%), Asia-Pacific (up 30% of which China’s up 28%) and Japan (up 10%).

The PPR Group empowers a coherent ensemble of luxury and sport and lifestyle premium brands, specializing in apparel and accessories, to reach their full growth potential. They are distributed in more than 120 countries.