Revenue at global luxury goods group PPR climbed 4 per cent year on year to E4.9 billion (£3.9 billion) in the first quarter of 2008.

Entertainment retailer Fnac’s revenue rose 2.7 per cent on a comparable basis and Puma’s sales rose 6.6 per cent on a comparable basis.

The Gucci Group, comprising brands such as Bottega Veneta, Yves Saint Laurent and Gucci, posted revenues up 9.6 per cent.

Gucci experienced a challenging quarter and revenues rose 2.4 per cent on a comparable basis. It continued to expand in emerging markets, but trade was softer in wholesale.

Bottega Veneta revenues surged 31.5 per cent and Yves Saint Laurent posted revenue up 20.2 per cent.

PPR chairman and chief executive officer Francois-Henri Pinault said: “Thanks to its diversified and balanced profile, PPR has begun the year with a solid business performance, in tougher markets. Gucci Group’s momentum underscores the success and relevance of the multi-brand strategy implemented by the luxury goods division, even as the Gucci brand itself experienced softer growth.”

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