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Luxury sales continue to soar at PPR

Like-for-like sales at French luxury group PPR rose 6.6% in its third quarter, with the company seeing sustained growth across all luxury brands.

The company behind Gucci, Stella McCartney and Alexander McQueen reported a 6.6% rise in revenues to €2.6bn (£2.09bn) in the three months to September 30.

PPR’s luxury division, which includes Gucci, Yves Saint Laurent and Bottega Veneta , posted an 11.9% leap in like-for-like sales.

Sales growth across all luxury brands and in all geographic areas drove the increase with all product categories contributing.

Gucci delivered a very good performance in the quarter with comparable sales up 7%. Like-for-like sales at Bottega Veneta rose by 21% and Yves Saint Laurent reported year-on-year growth of 27%.

Like-for-like sales at PPR’s sports and lifestyle arm however dropped 1.2%. PPR said like-for-like sales at Puma were stable while streetwear brand Volcom’s revenue contracted due to delivery delays.

François-Henri Pinault, chairman and chief executive officer, said the performance was “highly satisfactory”.

He added: “The luxury division continues to report outstanding growth propelled by the momentum of our brands across all of the group’s regions. We are also pursuing the group’s strategic transformation.

“This quarter’s impressive performance bears witness to the complementary nature and growth potential of our brands, the strength of the group and the balanced footprint of our businesses.”

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