This solid performance reflected further sustained growth in all luxury brands. The Luxury division posted an 11.9% leap in revenue in the third quarter of the year, driving revenue growth for the first nine months of the year to 15.5%. Revenue recorded by the Sport & Lifestyle division was up 2% for the first nine months of the year.
François-Henri Pinault, Chairman and Chief Executive Officer, noted: “PPR has again delivered a highly satisfactory performance overall this quarter with revenue for the Luxury and Sport & 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. This reinforces our confidence in PPR’s ability to deliver sustained revenue growth, along with gains in operating and financial performance, over the full year."
In the third quarter of 2012, PPR’s Luxury division delivered excellent performances, with revenue climbing 12% on a comparable basis and 24% in reported terms, in a mixed economic environment and against a high basis of comparison.
Sales growth across all luxury brands and in all geographic areas underscores the vitality and healthy geographic spread of the division’s activities.
All product categories contributed to the Luxury division's sales growth, with Fashion and Leather Goods up a strong 11%.
As of September 30, 2012, the store network of the Luxury division comprised 924 units, including 28 net new stores opened during the quarter. Nearly 30 stores have undergone renovations since the beginning of the year.
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