PARIS, France — PPR SA, the French owner of Gucci trying to spin off its Fnac book and electronics stores, is seeking a valuation of about 400 million euros ($519 million) for the business, people with knowledge of the process said.
FLORENCE, Italy — Luxury-goods makers are adapting as demand for premium products aligns with the broader economy for the first time in a decade, the chief executive officer of Gucci Group said.
The China Edit is a weekly curation of the most important fashion business news and analysis from and about the world’s largest luxury market.
BoF distills recent fashion stories from the French media.
LONDON, United Kingdom — The Savigny Luxury Index (“SLI”) lost 1.5 percent in April, underperforming the MSCI World Index (“MSCI”) by almost two percentage points. Luxury spending in Europe has been hit by a drop in tourist demand, as well as price increases by brands seeking wider margins. The unusually cold weather, particularly in March, also contributed to weak demand for Spring/Summer ready-to-wear collections.
PARIS, France — PPR SA, the French owner of Gucci and sporting goods maker Puma SE, said it will buy a majority stake in Italy’s Pomellato from closely held RA.MO SpA to expand its jewelry offerings.
BoF editor-in-chief Imran Amed recaps the week in the business of fashion.
LONDON, United Kingdom — The Savigny Luxury Index (“SLI”) gained 1.6 percent in March, outperforming the MSCI World Index (“MSCI”) by just half a percentage point. The SLI has been quite volatile over the month with the eurozone crisis and the US debt ceiling taking centre stage again.
PARIS, France — PPR's sportswear unit Puma will soon have a new chief executive, the French group's head said on Friday. PPR chief executive François-Henri Pinault was speaking at a news conference at which he unveiled a new name for the luxury goods group, which will be rebranded as Kering.
PARIS, France — PPR SA, the French owner of Gucci and Puma, will change its name to Kering to cap a transformation into a specialist in luxury products and sporting goods.
PARIS, France — PPR SA, the French owner of Gucci and Puma, is considering changing its name to Kering to cap its transformation into a luxury and sporting-goods specialist, according to people with knowledge of the plan.