French luxury and retail group PPR managed to post first-half profits that beat forecasts despite a slump in spending on luxury goods in Japan and US department stores.

PPR made an operating profit of 707 million euros in the six months to June 30, down from 743 million euros in the year-ago period.

The retailer is behind Gucci Group, which is one of the world’s leading multi-brand luxury companies with a portfolio of premier brands.

Gucci plans to open two to four more stores this year in China, after opening its 28th on Saturday, undeterred by uncertainty in the global economy as China is set to lead future luxury consumption.

For the moment, China’s $8 billion luxury market accounts for just 3 percent of global sales, compared with 38 percent in Europe, 33 percent in South and North America and 12 percent in Japan.

But China (and Brazil!) are projected to be the two fastest-growing luxury markets through 2012, according to consulting firm Bain & Co.

Boucheron celebrates the launch of the movie “HOME”, for which its parent company PPR is the exclusive worldwide partner.

Precious metals and gems are amongst the earth’s most precious gifts and on this occasion, the House has especially created “The Magnetic Quatre”, a unique combination of four golds.

The amalgamation of different golds and textures of this unique product symbolizes our planet’s four elements; wood, air, water and earth and reminds us of their fragile balance.

Shareholders of Pinault Printemps Redoute (PPR), the French multinational holding company specializing in retail shops and luxury brands, were showered with raw eggs thrown by employees of the group protesting during their general assembly in Paris on May 7, 2009.

The shareholders voted a dividend equivalent to 418 million euros (560 million US dollars) for 2008, whilst the employees demand the sum to be invested in to the company, and that job lay off plans be abandoned.

The future of the renowned Château Latour vineyard was in question after it emerged that the investment bank Lazard is discreetly offering the label for sale to French competitors.

Owned by the French business tycoon and president of the luxury-goods group PPR, François Pinault, Château Latour is regarded as one of the finest wines from the Medoc region.

The Château Latour estate consists of 78 hectares of Bordeaux vineyards but only grapes from the 47 hectares that surround the chateau at the heart of the estate are used to make the Grand Vin de Château Latour.

Gucci, the flagship brand of French luxury group PPR, is the world’s most coveted luxury brand according to a global luxury brands survey by The Nielsen Company.

In the latest survey, one in five global consumers said they would choose to buy Gucci (over any other luxury brand) if money was no option, making the Italian fashion brand that was revived by Tom Ford in the 1990’s the most coveted and aspirational luxury brand in the world today.

Chanel and Calvin Klein tied for second place in Nielsen’s 48-country global online survey that was conducted in November 2007.