Luxury goods conglomerate PPR revealed third-quarter sales growth rocketed 22 per cent, driven by sales at its newly acquired Puma sportswear business, as well as demand for Yves Saint Laurent dresses and Bottega Veneta handbags.

PPR, which owns brands such as Gucci and YSL Beaute, said sales rose 22 per cent to €5.2 billion (£3.62 billion) during the quarter and 7 per cent on a like-for-like basis.

PPR, which bought two thirds of German sportswear company Puma in April for €5.3 billion (£3.69 billion) said it increased sales to €670 million (£466.6 million), although like-for-likes slipped 0.5 per cent.

The luxury goods division reported a 10.5 per cent sales increase to €1 billion (£696.5 million), with like-for-likes up 16 per cent for the quarter.

Sales at Bottega Veneta soared 48 per cent, with Yves Saint Laurent up 20 per cent, both on a comparable basis. Gucci lagged behind the other brands with an 11 per cent increase.

PPR chairman and chief executive François-Henri Pinault said: “PPR turned in another set of robust performances in the third quarter, despite the more challenging monetary environment and economic outlook. Once again, these numbers reflect the efficiency and balance of our group, both in terms of businesses and geographical presence.”

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