Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Folli-Follie Posts 7.5% Gain in 2011 Profit on Travel Retail

March 29 (Bloomberg) -- Folli-Follie Group, a Greek manufacturer and retailer of handbags and other accessories, posted a 7.5 percent rise in profit as sales from travel retail increased.

Net income increased to 89.5 million euros ($118.7 million) from 83.3 million euros, according to an e-mailed statement from the Athens-based company. Sales rose 3.2 percent to 1 billion euros.

“We are fully satisfied,” Chief Excutive Officer George Koutsolioutsos said in the statement. “Travel retail activity exceeded even our most optimistic expectations by delivering its historical best performance” and revenue in China increased as Folli-Follie expanded its network in the country.

Travel retail revenue, from duty free stores at ports and airports, rose 15 percent to 291 million euros, the company said in the statement.

To contact the reporter on this story: Natalie Weeks in Athens at nweeks2@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.