The profits of German sports brand Puma dropped with 7% over the first three quarters of this year. The company made a profit of 90 million Euros, whereas last year Puma gained revenue of 96,6 million Euros. On a global level the sports brand’s profit increased with 0,5%; footwear sales were down by 4.6% to € 404.1 million, apparel was almost on last year’s level totalling € 246.9 million, and only the sales of Puma’s accessories improved by 36.0% to € 90.1 million. On a comparable basis, licensed sales were flat. Due to the take-back of the former license market Korea, the licensed business was down by 35.6% currency neutral to € 67.8 million. Based on the remaining licensed business the company managed a royalty and commission income of € 7.1 million in 1Q versus € 9.7 million in 2007. Puma might be able to turn things around for the rest of 2008, reporting that its orders increased 6.5% to € 1,170.4 million. Like-for-like, footwear going up by 10.2% to € 677.9 million and apparel improving with 14.3% to € 418.2 million. Also the outlook on major sports events such as European Champions League and the Olympics could revive its sales. (more…)

It appears the luxury houses aren’t infallible to the global credit crunch after all. Gucci this week saw sales slide in the first quarter ending March 31 as a result of tough trading conditions. Gucci’s sales rose 2.4 percent at constant exchange rates but fell 3.3 percent in the quarter to 513 million euros. PPR on Thursday that first quarter sales rose 20 percent to 4.91 billion euros, thanks to the addition of Puma and robust sales at Yves Saint Laurent and Bottega Veneta. Sales grew 4 percent after taking account of currency exchange, reflecting the impact the high value of the euro against the dollar and yen is having on European luxury firms.
The improvement wasn’t enough to offset the news about the core Gucci label, however, and PPR’s stock dropped 2.4 percent to close at 82.37 euro in trading on the Paris Bourse. (more…)

IN SIX MONTHS OF THEIR EXISTANCE THEY HAVE CREATED A HUGE MARK
THE CLIENTELE INCLUDE REUTERS, TOMMY HILFIGER, PUMA, FLYING MACHINE, DABOO RATNANI, JEAN CLAUDE BUGIUNE ETC

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