PPR (Gucci Group) owner, Francois Pinault, the second richest Frenchman running a portfoliio of luxury brands, has sold key non-strategic assets such as Conforama (second largest furniture retailer in France). For other non-strategic companies such as Redcats and Fnac, Pinault is looking at an stock exchange listing as well as possible direct sale.
His group has at least 4 billion euros in cash, which Pinault confirms are allocated to a strategic acquisition. Without confirming specific brands, the obsvious short list is Lacoste, Moncler and Burberry. With the current international crisis in various key emerging regions, all three brands might see a devaluation, thefore, a ”package” buy seems feasible.
More from NEWS
Balmain Beach Club debuts at Neiman Marcus
Neiman Marcus, in partnership with Balmain, is pleased to introduce Balmain Beach Club, an exclusive collection and immersive customer activation in Dallas. …
Swarovski opens new flagship store in Milan, Italy
Swarovski has recently opened in Milan the first flagship store in Italy. Located at 31 Piazza Duomo in Milan the …
Venice Simplon-Orient-Express sails into Venice – La Biennale di Venezia
The legendary Venice Simplon-Orient-Express, A Belmond Train, Europe remakes history by bringingL’Observatoire – a private and exclusive sleeper carriage designed …