French retailer Pinault-Printemps-Redoute SA has again increased its stake in luxury goods giant Gucci Group NV.

    The company said in a corporate filing it has upped its stake to 66.65 per cent from 65.63 per cent.

    PPR plans to own 70 per cent of world's third largest luxury goods group by the end of this year and has an option to buy the rest of the company in 2004.