Describing it as an “ambition” rather than a goal, the management of PPR told financial analysts last week that the group would like to reach a level of €24 billion in revenues by the year 2020, with 40 percent of that coming from its expanding sport and lifestyle division, whose brand portfolio now includes Puma, Cobra, Tretorn, Volcom and Electric. The rest would come from a tripling in the organic growth of its luxury brands, led by Gucci and comprising other assets such as Bottega Veneta, Yves Saint Laurent and newly acquired Brioni. The €24 billion figure would compare with the total revenues of €12.2 billion that the French group reached in 2011, up by 11.1 percent from the previous year. Boosted by its $607.5 million acquisition of Volcom, which was consolidated last July 1, the sport & lifestyle division saw its sales grow by 16.6 percent to €3,156 million, or 26 percent of the group’s total turnover. More in the last issue of SGI Europe.
