Add £1000 python skin Gucci handbags to the list of things that remain popular despite the economic gloom.
They helped PPR, the French group behind Gucci and designer brands Alexander McQueen, Stella McCartney and Yves Saint Laurent, to post an 11% rise in sales to 12.2 billion (£10.1 billion) in 2011. Profit after tax was up 2% at 986 million.
The strength of PPR's luxury brands offset weaker performance in some of its retail operations, such as the French music and games seller Fnac and catalogue group Redcats - which owns La Redoute.
PPR is in the process of jettisoning Redcats - it says several private equity buyers are interested - and plans to sell Fnac next.
Also today PPR set out plans for a new executive board which is to include Gucci boss Patrizio di Marco; Marco Bizzarri, chief executive of Bottega Veneta, and Puma boss Franz Koch.
