Fashion Definitions — fashion history, brands and industry terms from Apparel Search
François Pinault, born in 1937, founded the business that became PPR, a French multinational holding company specialising in retail shops and luxury brands, headquartered in Paris. Pinault started in the timber industry in the early 1960s and passed management to his son François-Henri in 2003.
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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.
François Pinault is a French billionaire businessman, founder of the luxury group Kering and the investment company Artémis. Pinault started his business in the timber industry in the early 1960s. Taken public in 1988, the company invested in specialized retail business and changed its name to PPR. By the end of 1999, PPR shifted towards luxury and fashion. In 2003, he passed on the management of his companies to his elder son François-Henri to follow his passion for contemporary art.
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 Francois Pinault.
Gucci deal
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 Francois 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.
Subsidiaries
As of 2005 PPR's main subsidiaries include:
Gucci which also owns the luxury brands Yves Saint Laurent, Sergio Rossi, Boucheron, Bottega Veneta, Bdat & Co, Alexander McQueen, Stella McCartney, Balenciaga)
Magasins du Printemps - Le Printemps department stores
Redcats - mail order retailer which operates La Redoute, Ellos, Empire, Brylane, Cyrillus, Vertbaudet, Somewhere, Daxon, Edme, Celaia, La Maison de Val rie)
FNAC - book and CD retailer in France, Belgium, Spain and Portugal
Conforama - household furnishing retailer
CFAO - distributor of cars and pharmaceuticals in Africa and the DOM-TOM
Competitors
PPR's chief competitors in luxury goods conglomerates are LVMH, Prada and Richemont.
External links
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The above article is licensed under the GNU Free Documentation License. From Wikipedia, the free encyclopedia https://en.wikipedia.org/wiki/Fran%C3%A7ois_Pinault & https://en.wikipedia.org/wiki/pPR_%28company%29 2/7/06 - some links modified by Apparel Search |
Designer Definition (from U.S Department of Labor)
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François Pinault started his business in the timber industry in the early 1960s. The company was taken public in 1988, invested in specialised retail businesses, changed its name to Pinault-Printemps-Redoute, and by the end of 1999 had shifted towards luxury and fashion. On 18 May 2005 the name was shortened to simply PPR. Pinault, a French billionaire businessman and founder of the luxury group that became Kering and of the investment company Artémis, lives in France, is married with four children, and in 2003 passed the management of his companies to his elder son François-Henri in order to follow his passion for contemporary art. The holding company itself is headquartered in Paris, quoted on Euronext Paris and a constituent of the CAC 40 index.
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 1999 Gucci asked PPR to acquire an ownership interest in Gucci to help fend off LVMH. The dispute became a struggle between the two richest men in France, both self-made billionaires — Pinault and Bernard Arnault, chairman of LVMH. It ended 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 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's chief competitors in luxury goods conglomerates are named as LVMH, Prada and Richemont — the same three groups that recur throughout these company definitions.
As of 2005 PPR's main subsidiaries combined luxury with mass retail. Gucci Group also held Yves Saint Laurent, Sergio Rossi, Boucheron, Bottega Veneta, Alexander McQueen, Stella McCartney and Balenciaga. Alongside them sat Magasins du Printemps, the Le Printemps department stores; Redcats, the mail-order retailer operating La Redoute, Ellos, Empire, Brylane, Cyrillus, Vertbaudet and other catalogues; FNAC, the book and CD retailer in France, Belgium, Spain and Portugal; Conforama, the household furnishing retailer; and CFAO, distributor of cars and pharmaceuticals in Africa and the French overseas departments and territories. That breadth is what the name Pinault-Printemps-Redoute described: a founder's name joined to a department store and a mail-order business, later shortened to PPR as the centre of gravity moved to luxury brands.
François Pinault founded the company. He started his business in the timber industry in the early 1960s; the company was taken public in 1988, invested in specialised retail, and shifted towards luxury and fashion by the end of 1999.
In March 1999 Gucci asked PPR to acquire an ownership interest to help fend off LVMH. In September 2001 LVMH agreed to sell its Gucci shares to PPR for $94 a share, and PPR completed its buy-in and took full control of Gucci in July 2004.
The company was originally called Pinault-Printemps-Redoute. It changed its name on 18 May 2005 to simply PPR. It is quoted on Euronext Paris and is a constituent of the CAC 40 index.