PPR Has an ‘Excellent’ 2011

French luxury and retail company, PPR, said Thursday that its 2011 revenue rose 11.1 percent, year-over-year, to 12.2 billion euros ($15.86 billion).

The Paris-based company—whose brands include Gucci, Bottega Veneta, Yves Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Stella McCartney, Boucheron and Girard-Perregaux—reported that its recurring operating income rose 16.9 percent to 1.6 billion euros ($2.08 billion) and its recurring net income, group share, surged 26.4 percent to 1.05 billion euros ($1.36 billion). Net income, group share, rose 2.3 percent to 986 million euros ($1.3 billion).

“PPR’s results for 2011 are excellent,” said François-Henri Pinault, PPR chairman and CEO. “Our Luxury and Sport & Lifestyle brands command leading positions in the fastest-growing segments of the apparel and accessories market and are well placed to respond to and anticipate new consumer trends in both mature markets and emerging countries. The transformation of PPR into a more cohesive, integrated group will make us stronger and enable us to fully exploit the huge growth potential of each of our brands. In the uncertain economic climate of early 2012, the core strengths underpinning PPR’s robust 2011 results will continue to propel our performance this year. PPR is confident that 2012 will be another year of sustained revenue growth and improvements in our operating and financial performances.”

The company divides its operation into three division: Luxury (Gucci, Bottega Veneta, Yves Saint Laurent, Alexander McQueen, Balenciaga, Brioni (acquired in January), Stella McCartney, Boucheron, Girard-Perregaux, JeanRichard, Sergio Rossi); Sports & Lifestyle (Puma, Volcom, Cobra, and Electric); Fnac, the French books and music retailer; and Redcats, a fashion and home group of companies that PPR is selling.

Luxury division revenue rose 22.6 percent to 4.9 billion euros ($6.36 billion). Gucci revenue rose 17.9 percent to 3.14 billion euros ($4.08 billion), Bottega Veneta revenue surged 33.7 percent to 682.6 million euros ($887.1 million), and Yves Saint Laurent revenue increased 31.4 percent to 353.7 million euros ($459.6 million).

Puma revenue rose 11.2 percent to 3.01 billion euros ($3.91 billion) for the year. Fnac sales were down 3.2 percent to 4.16 billion euros ($5.4 billion).

Timepiece Tuesday: Time Machine Wins Award, Bottega Veneta's Luxury Watch, Aggasi and Longines Make Education Pitch

Time Machine Wins Concept and Design Award

The Horological Machine No. 4 Thunderbolt has received the prestigious Grand Prix d’Horlogerie de Geneve award for best Concept and Design Watch. It’s maker, MB&F created the aviation-inspired watch case and engine as a single unit. The Thunderbolt's engine is the result of three years of development. Each of the 300-plus components–including the regulator and even the screws–was developed specifically for this particular watch. Every component and form has a technical purpose, the watchmaker said. 

Bottega Veneta Introduces Luxury Watch

Italian luxury goods house Bottega Veneta has teamed up with Swiss luxury watchmaker Girard-Perregaux for its first ever watch, the Bottega Veneta BVX, a unisex watch that features the fashion house’s signature woven leather pattern on its strap. The dial has a black, brushed titanium cover case while the face is brown. The strap is crocodile leather and is cigar colored. It has an 18k rose gold automatic movement made by Girard Perregaux. The case measures 41 mm across and is made of brushed titanium. Titanium has the highest strength-to-weight ratio of any metal and is also corrosion-resistant and hypoallergenic. The back of the watch is faced with crystal, leaving the workings completely exposed. The case is finished with a PVd coating in Bottega Veneta’s signature brunito color. Read more about at Lorre White, the Guru of Luxury Web site.

Agassi, Longines, and Fink’s Jewelry Host Education Event

Swiss luxury watch company, Longines hosted “A Day With A Legend Event” at Fink’s Jewelers on November 16 at its Tysons Corner location. Longines brand ambassador and tennis legend Andre Agassi spoke to children from the USTA Mid/Atlantic and fans about his views on education in America, the Longines Elegance Scholarship Fund, his school, The Andre Agassi College Preparatory Academy, and the work of his foundation, the Andre Agassi Foundation for Education. The foundation has raised $150 million for education initiatives since it’s founding in 1994. Agassi was accompanied by a graduating senior, Micah Jones, from his Nevada-based preparatory academy. Longines set up a smash court in-store where the tennis legend hit a few balls with the children from the USTA Mid/Atlantic. For a $5 donation to Agassi’s foundation, attendees at were able to test the speed of their serve. The fastest men’s and women’s serve received a Longines timepiece. Fink’s Jewelers said it would donate 10 percent of the sales of Longines timepieces for the month of November and December to Agassi’s Foundation. Later that evening, Longines hosted a dinner at Fink’s Jewelers where education was the topic of discussion.