Gucci Group, Luxury pole of PPR Group, PPR Group and starting today KERING is the new corporate umbrella brand which encompasses Francois Henri Pinault’s collection of luxury brands which his family owns: Gucci, Bottega Veneta, Saint Laurent Paris, Brioni, Balenciaga, Alexander McQueen, Puma, Stella McCartney, Christopher Kane, Girrard Perregaux.
PPR which stood for Pinault, Printemps La Redoute is obsolete, since the group sold Parisian Printemps department store many years ago, while La Redoute was sold early this year.
But why not Gucci Group? The Gucci brand is not only the largest in terms of sales but Pinault has understood the importance of its Italian identity. Therefore, putting Saint Laurent Paris or Alexander McQueen under an ”Italian umbrella” would not be feasible.
As for the actual meaning of Kering, the group insists its inspiration is drawn from Breton language, meaning, Kering meaning ‘house’ or ‘foyer’. However, in Indonesian, Kering means dry or dried. It appears Pinault’s ambitious re-branding has not only been rushed but also could not come at a worst time from an investment point of view, given the uncertainty surrounding Gucci’s performance in China, the huge losses at Puma and continuous investments at Saint Laurent Paris (recently re-branded from YSL) and Brioni – both brands yet to reach the stability and growth of Bottega Veneta, the true flagship and engine of the entire group.
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