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PPR posts "excellent" results for 2012

French luxury fashion group PPR, the business behind brands including Gucci, Stella McCartney and Alexander McQueen, posted “excellent” results for 2012 with net incomes rising by 6.3%.

Over the year, revenues rose 20.8% to €9.74bn (£8.39bn) as net income rose 6.3% to €1.05bn (£904m).

Growth was driven by PPR’s luxury goods division, with the arm increasing 27.6% during the year.

Luxury label Yves Saint Laurent posted a 58.9% increase during 2012 and Bottega Veneta’s revenues grew 46.7%.

Chairman and chief executive officer François-Henri Pinault said: “PPR’s results for 2012 are excellent, thanks to the exceptional performances of all brands in our Luxury Division. The significant growth potential of our brands is driven by their strength, the outstanding quality of their products and the rigorous development of their distribution channels. This potential was once again demonstrated in our luxury division in 2012 and we are striving to achieve the same dynamic in the Sport & Lifestyle Division.”

Pinault added that he is “confident” that during 2013 the group will able to continue to grow “significantly” due to the company strengthening its assets.

Earlier this year PPR acquired a 51% stake in luxury designer brand Christopher Kane as part of plan to accelerate its expansion.

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