The French PPR Group faced many difficulties at the beginning

According to the French “Textile News” report, the beginning of 2009 was as difficult as the end of 2008 for the French Pinault-Princess-Ledo Group (hereinafter referred to as PPR). After PPR Group’s turnover fell by 1.5% year-on-year in the fourth quarter of 2008, sales fell by 2.6% in the first quarter of 2009, and its turnover fell by 5% year-on-year. PPR’s Puma and Gucci groups have not opened new stores due to the slowdown in the economy and consumption. Gucci Group’s turnover fell by 3.4% in the first quarter of 2009, while Puma’s turnover increased by 3.6%, but there was no progress in Europe, the Middle East, and Africa.
According to the report, in the first quarter of 2009, Conforama, a subsidiary of PPR, saw a 10% decline in revenue in the domestic market to 710 million euros compared with the same period in the fourth quarter of 2008, and a 12% decline in the international market. In particular, sales in the Italian market fell by 20%, and 4 stores were closed. , also operating in difficulty in Spain and Portugal. The turnover of its subsidiary Fnac fell by 4%. PPR1 quarter online shopping turnover fell by 5.4%, down 7.4% year-on-year. Its retailers pointed out that Ledo’s turnover fell by 14% in the French market and 6% in the international market. In view of this, PPR decided to reduce investment, save financial resources and revise the budget. Conforama, Fnac, and Lei have all laid off more than 1,800 people.