Double-digit growth across all geographic regions was powered by 20% sales growth in emerging countries, which now represent nearly 40% of the Luxury Division's sales. Fashion and Leather Goods sales advanced 18% in the first three months of the year
GUCCI
Gucci had a good start to the year, with sales up 12% in comparable terms and 16% on a reported basis. Directly-operated stores once again improved their contribution to revenue, advancing 13% in the quarter, and now accounting for three-fourths of Gucci's total sales.
Online sales surged 30%, continuing to increase as a
proportion of total revenue.
BOTTEGA VENETA
Bottega Veneta delivered another excellent performance in the first quarter of 2012, with revenue jumping 33% on a comparable basis and 39% in reported terms. The brand's outstanding performance spanned all geographic areas:
Western Europe (up 28%),
North America (up 36%), Asia-Pacific (up 45%) and
Japan (up 16%).
Online sales more than doubled compared to the first quarter of 2011!
YVES SAINT LAURENT
Yves Saint Laurent put in a bumper performance in first-quarter 2012,
with sales soaring 40% on a comparable basis and 43% in reported terms, on the back of the successful Autumn/Winter collections as well as the well-received Cruise and women's Spring/Summer collections. Business was buoyant across the board with all regions and distribution channels reporting strong growth on a comparable basis:
Western Europe (up 34%), North America (up 48%), Japan (up 53%) and Asia-Pacific (up 63%). In addition,
royalties rose by around 15% compared to the first quarter of 2011, predominantly from fragrances and beauty.
In the first quarter,
PPR’s Other Luxury Brands posted comparable
sales growth of 20% (71% in reported terms) with all brands and regions contributing to the performance: Western Europe (up 12%), North America (up 33%), Asia-Pacific (up 30% of which China up 28%) and Japan (up 10%).
Momentum remained especially strong for Fashion and Leather Goods, with growth coming in at more than 30% for the quarter, driven by
sparkling performances at both Alexander McQueen and Stella McCartney, together with another
strong showing at Balenciaga. Brioni, which was fully consolidated in January, also posted double-digit growth. Boucheron showed further improvement, driven by its retail business.
Alexandra Blaison from Lugano, Switzerland
