LVMH, manager of brands like Fendi and Marc Jacobs, isn’t the only big-time luxury goods conglomerate to suffer significantly, yet report impressive numbers for only one fashion label under their business umbrella.
One of the other well-known holding company names in the designer world, PPR, is dealing with the same issue. The news is good for their subsidiary Bottega Veneta, though. They’re the only brand under PPR that actually saw growth in their sales numbers over the second quarter.
Bottega Veneta’s 8.6% sales increase is significant when you consider PPR’s 76% decline in first-half net profits when compared to last year. I’m guessing that their star performer in fashion sales is getting the royal treatment these days, especially when it comes to doling out the marketing money.
[Source: fashionologie]
[Image: Wallslide/flickr]
