                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                            ----------------------

                                  SCHEDULE 13D
                               (Amendment No. 11)

                    Under The Securities Exchange Act Of 1934


                                GUCCI GROUP N.V.
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                                (Name of Issuer)

                 COMMON SHARES, NOMINAL VALUE NLG 2.23 PER SHARE
--------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                   40156610-4
--------------------------------------------------------------------------------
                                 (CUSIP Number)

                               David A. Katz, Esq.
                         Wachtell, Lipton, Rosen & Katz
                               51 West 52nd Street
                            New York, New York 10019
                                 (212) 403-1000
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                 (Name, Address and Telephone Number of Person
               Authorized to Receive Notices and Communications)

                                 MARCH 20, 2003
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            (Date of Event Which Requires Filing of this Statement)

If the  filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box / /.

Note:  Six copies of this statement, including all exhibits, should be filed
with the Commission.  See Rule 13d-1(a) for other parties to whom copies are to
be sent.


                         (Continued on following pages)
                               Page 1 of 14 Pages


<PAGE>



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1     NAME OF REPORTING PERSON
PINAULT-PRINTEMPS-REDOUTE S.A.
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

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2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                    (a) / /
                                                                    (b) /x/

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3     SEC USE ONLY


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4     SOURCE OF FUNDS*
 BK (See Item 3)

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5     CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
      PURSUANT TO ITEMS 2(d) or 2(e)                                  /  /
                                                                      ---

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6     CITIZENSHIP OR PLACE OF ORGANIZATION
FRANCE

--------------------------------------------------------------------------------
                               -------------------------------------------------
                               7      SOLE VOTING POWER
      NUMBER OF                       60,599,438 (See Item 5)
      SHARES
                               -------------------------------------------------
      BENEFICIALLY             8      SHARED VOTING POWER
      OWNED BY                        -0-
      EACH
                               -------------------------------------------------
      REPORTING                9      SOLE DISPOSITIVE POWER
      PERSON                          60,599,438 (See Item 5)
      WITH
                               -------------------------------------------------
                               10     SHARED DISPOSITIVE POWER
                                       -0-
--------------------------------------------------------------------------------
11    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
60,599,438 (See Item 5)

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12    CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
      CERTAIN SHARES*                                                 /  /
                                                                      ---

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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
61.06% (based upon outstanding shares) (See Item 5)

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14    TYPE OF PERSON REPORTING*
CO

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                      *SEE INSTRUCTIONS BEFORE FILLING OUT

<PAGE>
        This Amendment No. 11 ("Amendment No. 11") is filed by
Pinault-Printemps-Redoute S.A., a societe anonyme organized and existing
under the laws of the Republic of France ("PPR"), and amends the Schedule 13D
filed on March 29, 1999 by PPR, as previously amended by Amendment No. 1
filed on April 15, 1999, Amendment No. 2 filed on April 20, 1999, Amendment
No. 3 filed on July 19, 1999, Amendment No. 4 filed on November 18, 1999,
Amendment No. 5 filed on September 12, 2001, Amendment No. 6 filed on October
26, 2001, Amendment No. 7 filed on December 26, 2002, Amendment No. 8 filed
on January 15, 2003, Amendment No. 9 filed on January 24, 2003 and Amendment
No. 10 filed on February 24, 2003 (collectively, the "Schedule 13D").  PPR is
filing this Amendment No. 11 on behalf of itself and its wholly owned
subsidiary, Societe Civile de Gestion Financiere Marothi, a societe a
responsabilite limite organized and existing under the laws of the Republic
of France ("Marothi"), and Scholefield Goodmann BV, a private limited company
organized and existing under the laws of The Netherlands and a wholly owned
subsidiary of Marothi ("Scholefield").  This Amendment No. 11 relates to the
common shares, nominal value NLG 2.23 per share (the "Common Shares") of
Gucci Group N.V., a naamloze vennootschap organized under the laws of The
Netherlands (the "Company").  Capitalized terms used in this Amendment No. 11
without definition shall have the meanings ascribed to them in the Schedule
13D.

ITEM 3.     SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.

            Item 3 is hereby amended and supplemented as follows:

            The funds used to purchase the 997,207 Common Shares described under
Item 4 below were obtained by PPR from available funds.

ITEM 4.     PURPOSE OF TRANSACTION.

            Item 4 is hereby amended and supplemented as follows:

            Scholefield acquired under the Purchase Plan an additional 997,207
Common Shares in transactions effected on the New York Stock Exchange and the
Amsterdam Stock Exchange between February 24, 2003 and March 20, 2003.

            As a result of these purchases and when combined with the Common
Shares previously owned, PPR may be deemed to beneficially own 60,599,438 Common
Shares. Based upon 99,250,833 Common Shares which the Company has informed PPR
are outstanding, as of February 28, 2003, PPR may be deemed to beneficially own
61.06% of the outstanding Common Shares.

            From time-to-time, depending on the market prices for the Common
Shares, PPR may acquire additional Common Shares in open market purchases,
negotiated transactions or otherwise, subject to the limitations set forth in
the Restated SIA and other legal and contractual restrictions. Except as set
forth in this Item 4, PPR presently has no plans or proposals that relate to or
would result in any of the actions specified in clauses (a) through (j) of Item
4 of Schedule 13D.

ITEM 5.     INTEREST IN SECURITIES OF THE ISSUER.

            Item 5 is hereby amended and supplemented as follows:

<PAGE>

         Scholefield acquired under the Purchase Plan an additional 997,207
Common Shares in transactions effected on the New York Stock Exchange and the
Amsterdam Stock Exchange between February 24, 2003 and March 20, 2003.

            As a result of these purchases and when combined with the Common
Shares previously owned, PPR may be deemed to beneficially own 60,599,438 Common
Shares. Based upon 99,250,833 Common Shares which the Company has informed PPR
are outstanding, as of February 28, 2003, PPR may be deemed to beneficially own
61.06% of the outstanding Common Shares.

            Except as set forth in this Item 5 and in Item 4 above, none of SFP,
Artemis, PPR, Purchaser and Mr. Pinault and none of the individuals named in
Exhibit 1 to the Schedule 13D as an executive officer or director of any of SFP,
Artemis, PPR and Purchaser has engaged in any transactions with respect to the
Common Shares during the past 60 days.

ITEM 7.     MATERIAL TO BE FILED AS EXHIBITS.

            Item 7 is hereby amended and supplemented as follows:

Exhibit 28 -      Common Share Purchases by Scholefield Goodmann BV on the
                  Amsterdam Stock Exchange between February 24, 2003 and March
                  20, 2003.


<PAGE>


                                    SIGNATURE

      After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certifies that the information set forth in this
statement is true, complete, and correct.

                                    PINAULT-PRINTEMPS-REDOUTE S.A.



                                    By: /s/ Serge Weinberg
                                       ---------------------------------------
                                       Name:  Serge Weinberg
                                       Title: Chairman and Chief Executive
                                              Officer



March 24, 2003

                                      -3-

<PAGE>


                                  EXHIBIT INDEX


     EXHIBIT                             DESCRIPTION

Exhibit 28 -      Common Share Purchases by Scholefield Goodmann BV on the
                  Amsterdam Stock Exchange between February 24, 2003 and March
                  20, 2003.


                                      -4-


