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PPR boosted by strong growth at Gucci

PPR, the luxury goods group which owns the Gucci brand, reported a 5.1% rise in like-for-like sales to €4.7 million (£3.7m) during the second quarter of 2008, thanks to a stellar performance from its Gucci brand.

PPR's Gucci label saw like-for-like sales rise 16% to €761,000 (£600,000) during the period. Sales of fashion and leather goods rose by 17% and the Gucci Group opened 10 new stores, taking its total to 521.

Sales at PPR's Bottega Veneta brand jumped by 20% on a like for like basis during the second quarter. Bottega Venta reported growth in all markets.

Sales at Yves Saint Laurent rose 33% compared to the second quarter of 2007. YSL's leather goods and footwear categories performed particularly well.

Second quarter sales at PPR's other luxury brands, including Balenciaga, Boucheron, Alexander McQueen, Stella McCartney and Sergio Rossi, rose by a combined 31%.

PPR chairman and chief executive François-Henri Pinault said: "In a market environment in line with our expectations, PPR's activity in the second quarter improved at a steady pace, ahead of the Q1 progression. The excellent performance of our luxury goods activities illustrates the strength of our brand portfolio, driven by the outstanding growth of the Gucci brand. More than ever, our improved performance confirms the group's resilience and growth potential. I remain confident in PPR's ability to achieve another year of growth and improve its financial performance in full year 2008."

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