Pinault-Printemps-Redoute
 |
|
| Société Anonyme | |
| Traded as |
Euronext: KER CAC 40 Component |
| Industry | Retail and Fashion design |
| Founded | 1963 |
| Founder | François Pinault |
| Headquarters | Paris, France |
|
Key people
|
François-Henri Pinault (Chairman and CEO) |
| Products |
Luxury goods Sporting goods |
| Revenue | €12.385 billion (2016) |
| €1.886 billion (2016) | |
| Profit | €1.282 billion (2016) |
| Total assets | €24.139 billion (2016) |
| Total equity | €11.964 billion (2016) |
|
Number of employees
|
35,877 (2016) |
| Subsidiaries | |
| Website | kering |
Kering (founded in 1963) is an international luxury group based in Paris. It owns luxury brands including Gucci, Yves Saint Laurent, Balenciaga, Alexander McQueen, Bottega Veneta, Boucheron, Brioni, as well as Puma and Volcom in its Sport & Lifestyle portfolio.
Kering has been headed by François-Henri Pinault since 2005, has been quoted on Euronext Paris since 1988, and has been a constituent of the CAC 40 index since 1995.
In 1962, with a loan from his family and the bank, François Pinault opened the Établissements François Pinault in Brittany (France) specialized in timber trading. The company grew organically and through successful acquisitions. In 1988, Pinault SA was listed on the Paris Stock Exchange, multiplying the group’s financial power.
In 1989, it purchased 20% of CFAO, a French distribution conglomerate active throughout Africa. In 1990, Pinault SA and CFAO merged, and François Pinault became head of the newly formed group. This accelerated its acquisitions in the retail sector: Conforama (French furniture retailer) in 1991, Printemps (department stores in Paris) in 1992, which also owned 54% of La Redoute (French mail-order shopping retailer), and Fnac (French bookstore, multimedia and electronics retailer) in 1994. To align the group’s identity with its new activities, it was renamed Pinault-Printemps-Redoute in 1994.
In 1999, a major acquisition changed the course of the group’s strategy. In a bold and unexpected move, Pinault-Printemps-Redoute purchased a controlling 42% stake of the Gucci group for $3 billion. Through the Gucci deal, Pinault-Printemps-Redoute also acquired the brand Yves Saint Laurent. It confirmed this new strategy with its following acquisitions, which included the French high-jewelry house [Boucheron]] (2000), the Italian leather goods maker Bottega Veneta, and the fashion house Balenciaga (2001). In 2001, Pinault-Printemps-Redoute also signed strategic partnerships with ex-Givenchy fashion designer Alexander McQueen and with Stella McCartney.
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Wikipedia