PPR jewellery and watch sales up 26% in Q3

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French luxury goods group says results are highly satisfactory.

French luxury goods group PPR has released its 2012 Q3 results, with revenue totalling €2.6 billion (£2.1bn), up 6.6% versus the same 2011 period.

The group said revenue had advanced across all geographic areas, and that all of its luxury brands had enjoyed a solid performance in Q3.

PPR’s jewellery and watch brands excelled in Q3, with comparable sales growth of 16%. Its timepiece and jewellery sector reported 26% growth in revenue. Of note were the success of Boucheron’s high jewellery collection and Girard Perregaux’s timepieces – a brand that PPR says “continues to gain ground”.

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PPR’s luxury division posted an 11.9% increase in revenue in the third quarter, totalling €1.59 billion (£1.27bn), with Gucci delivering “a very good performance” in the quarter, with sales up 7% in comparable terms and 16% on a reported basis.

As of September 30, PPRs jewellery, timepieces and accessories brands were positioned in 235 retail locations.

François-Henri Pinault, chairman and chief executive of PPR said: “PPR has again delivered a highly satisfactory performance overall this quarter with revenue for the luxury and sport and lifestyle divisions climbing 6.6%.

“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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