Francois Pinault (born 1937) runs the retail company PPR. He lives in France and is married with four children. He is a friend of French President Jacques Chirac.
PPR is a French
multinational holding company specializing
in retail shops and luxury
The company is headquartered in Paris and
is run by its founder, billionaire businessman
Pinault led PPR through a long battle over control of Gucci, the Italian fashion company, which began with an attempted takeover of Gucci by LVMH, the world's largest luxury goods company. In March of 1999, Gucci asked PPR to acquire an ownership interest in Gucci to help fend off LVMH. The result was a struggle between the two richest men in France, both self-made billionaires -- Pinault and Bernard Arnault, the Chairman of LVMH.
The dispute end in September 2001, when LVMH agreed to sell its shares in Gucci to PPR for $94 a share. As part of the agreement, PPR promised to make a tender offer for the balance of the publicly traded shares at a later date. It completed that buy-in in July 2004 and took full control of Gucci.
PPR is a French multinational holding company specializing in retail shops and luxury brands. The company is headquartered in Paris and is run by its founder, billionaire businessman Fran
ois Pinault. It is quoted on Euronext Paris and is a constituent of the CAC 40 index. It was originally called Pinault-Printemps-Redoute, but changed its name on 18 May 2005 to simply PPR.
As of 2005 PPR's main subsidiaries include:
Magasins du Printemps - Le Printemps department stores
Conforama - household furnishing retailer
Designer Definition (from U.S Department of Labor)
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