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luxury goods

February 18, 2011

Family-controlled luxury goods company, PPR, announced on 17 February that group head Francois-Henri Pinault will take direct control of the luxury business group, amid an announcement of a rise in the company’s profits.

Family-controlled luxury goods company, PPR, announced on 17 February that group head Francois-Henri Pinault will take direct control of the luxury business group, amid an announcement of a rise in the company’s profits.

The Paris-based company said in a statement that the luxury business group, which includes Gucci, Bottega Veneta and YSL, will report directly to Pinault, second-generation head of PPR, and the individual brands will continue to retain autonomy under its respective directors.

September 8, 2010

Swiss-based luxury goods group Richemont has seen sales jump in the five months to 31 August, boosted by the acquisition of online fashion business NET-A-PORTER.COM and increasing demand from Asia.

Swiss-based luxury goods group Richemont has seen sales jump in the five months to 31 August, boosted by the acquisition of online fashion business NET-A-PORTER.COM and increasing demand from Asia.

Sales at the family-controlled company increased by 37% year-on-year following the purchase of NET-A-PORTER.COM in April this year for €272 million.

Excluding this acquisition, sales rose 22% driven by demand from Asia and the Americas, where Richemont reported a 36% and 38% increase in sales respectively.

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