For the 2010 financial year, PPR booked a 7.5 percent increase in its total revenues to €14.6 billion and a 1.4 percent rise in net profits to €965 million. The Gucci Group raised its sales by 18.3 percent to €4.0 billion, with a currency-neutral increase of 12.2 percent. Retail sales of luxury goods rose by 16 percent and wholesale was up by 10 percent. The number of stores edged up to 684 at the end of 2010 from 609 a year earlier.
The Gucci brand raised its sales by 17.6 percent to €2.7 billion, up by 11.0 percent on a constant-currency basis. Bottega Veneta surged by 27.0 percent to €511 million, up by 19.3 percent in local currencies. YSL was up by 13.3 percent to €269 million, 9.6 percent higher before currency conversion. Other luxury brands, including Sergio Rossi, raised their combined revenues by 16.6 percent to €564 million, with a currency-neutral increase of 13.2 percent.
The Gucci Group's Ebitda increased by 26.6 percent to €1.1 billion. Higher operating profits were recorded in all its units: the Ebitda of the Gucci division went up by 22.9 percent to €872.6 million, Bottega Veneta gained 42.3 percent to €147.0 million, YSL ballooned to €21.2 million from €1.8 million and other brands rose by 63.8 percent to €71.9 million.
The Gucci Group's overall performance gained some momentum in the fourth quarter of 2010. On a constant-currency basis, its sales were up by 14.4 percent for the quarter, with increases of 13.8 percent for Gucci, 27.3 percent for Bottega Veneta, 17.8 percent for YSL and 5.1 percent for other brands. The positive trends continued in the first few weeks of the new financial year.
The Gucci Group is performing very strongly in Greater China, where its sales grew last year by 34 percent and came to represent 21 percent of total revenues. The number of its stores in the country grew by nine doors to 39 last year. The group is reportedly planning to capitalize on the strong development of the internet and e-commerce in China.