Kering
Kering (until 2013: PPR SA ) is a French, global fashion and accessories company.
The Paris-based company was founded in 1963 by the French businessman François Pinault and led until 2005 by this. Since 21 March 2005, the Group of Pinault's son, François -Henri Pinault, is passed. To Kering include numerous corporate takeovers now internationally known, among other fashion, sports and accessories brands as well as renowned jewelry manufacturer and watchmakers of the upscale segment.
- 5.1 sustainability
- 5.2 The Kering Foundation
History
The Pinault Group was founded by François Pinault in the timber and building materials industry in 1963. In 1988 the company went to the Paris Stock Exchange. With the purchase of the furniture company Conforama 1991 Pinault began with diversification into retail. At the latest with the acquisition of the French retail group Printemps in 1992, the mail order company La Redoute in 1994, and the related establishment of the Pinault -Printemps -Redoute Group ( simplified to PPR 2005) was an alignment of the entire group away from the timber and construction sector, and retail distribution. In 1994, Pinault -Printemps -Redoute French retail group Fnac.
In March 1999, PPR acquired a stake of 40 % initially to Gucci. The rival LVMH Moët Hennessy Louis Vuitton had bought a share of 34 % of Gucci in early 1999. Through strategic capital measures the Gucci SpA diluted to the LVMH share in the result to 20%. PPR and LVMH eventually led a two-year takeover battle for Gucci, which had to be repeated several times to court. End of 2001, PPR bought the LVMH stake in Gucci and so was over 53% of the shares in the Italian luxury goods companies.
As a result, PPR founded with the Gucci Group, a luxury division with different brands in the premium segment. The acquisition of Yves Saint Laurent (fashion and beauty ) and the shoe brand Sergio Rossi by the Gucci Group was still 1999. In 2000, the purchase of the jewelry and watch manufacturer Boucheron followed. The cosmetics division of the Yves Saint Laurent brand was finally separated in YSL Beauté. 2001 was launched by a PPR investment of 50 % stake in the company's own fashion brand of the former Chloé designer Stella McCartney. At the same PPR acquired a 51% stake in the brand Alexander McQueen. 2004 increased PPR, as a result of a public takeover bid, its equity stake in Gucci Group to 99.4 %.
2006 PPR began with the withdrawal of the retail sale of 51 % of the shares of Printemps to the real estate and infrastructure arm of Deutsche Bank RREEF and the Borletti group, the remaining shares were sold the following year. In 2007, the company used the acquisition of a majority stake in Puma ( company ) (and its subsidiaries since 2001 Tretorn Sweden), to establish themselves in the sports segment. Since then, the Group is subdivided into the areas of luxury and sport & lifestyle. The latter was expanded with the purchase of American golf and streetwear brands like Cobra Golf (2010), Volcom (2011) and Electric ( 2011). 2008 PPR had the cosmetics division YSL Beauté to the French L'Oreal Group repelled, in which since the cosmetics licenses are for different Kering brands.
The expansion of the luxury segment pursued PPR 2011 with the acquisition of Sowind Group, parent company of Swiss watchmakers Girard- Perregaux and JEANRICHARD. Simultaneously, the furniture chain Conforama was sold and the Gucci Group dissolved within PPR. The formerly bundled in the Gucci Group luxury brands are now as equal marks next to the Gucci brand part of the overall group. In 2012 came the acquisition of the Italian menswear Brioni and the majority stake in its Chinese jeweler Qeelin. The Italian jewelry brand Pomellato and DoDo were 2013 the brand portfolio added.
The 2013 renamed Kering Group took over in early 2013, a 51 % controlling stake in the British fashion brand Christopher Kane and signed a partnership with the New York designer Joseph Altuzarra. Mid-2013, the elimination of Fnac was completed by Kering brought the company to the stock exchange. In December Kering announced a joint venture with the chief designer of the Kering brand Bottega Veneta, Tomas Maier, in order to expand its own brand Tomas Maier.
Company name
The company changed over the years several times the company name. From the Établissements Pinault in 1988 after an IPO, the Pinault SA. The acquisition of the department store chain Printemps 1992, the name Pinault -Printemps was changed, and after the purchase of the fashion chain La Redoute in 1994, the company Pinault -Printemps -Redoute, which was eventually shortened from 2005 to PPR said. After the completion of the full transformation of the Group, the company named in mid-2013 to Kering .. According to the company leans the art word Kering on to the English word " Caring " and expresses the fact that the Group both to its brands and cares for its customers, employees and other stakeholders. The prefix " Ker " also means in the Breton language " Home " and is the home of the Pinault, and thus remember the roots of the company, in Brittany.
Subsidiaries
(Then PPR) are among state in December 2013 following links to Kering:
- In the luxury segment Gucci, Saint Laurent Paris, Sergio Rossi, Boucheron, Bottega Veneta, Balenciaga, Stella McCartney, Alexander McQueen, Brioni, Sowind Group with the brands Girard- Perregaux and JeanRichard, Queelin, Pomellato Group with the brands Pomellato and Dodo, Christopher Kane and Tomas Maier
- Puma, Volcom, Cobra Golf, Electric and Tretorn lifestyle segment
Management
Kering part of the state in 2014 to 40.9 % of the shares ( 55.52 % of the voting rights ) to the 1992 by François Pinault family holding company founded Groupe Artemis, in which the family Pinault other company bundles from various industries.
Members of the Board Kering
- François -Henri Pinault, CEO
- Jean -François Palus, Group Managing Director
- Jean -Marc Duplaix, Finance Director
- Alexis Babeau, Managing Director of the Luxury Division
- Marco Bizzarri, CEO of Bottega Veneta
- Patrizio di Marco, Gucci 's CEO
- Björn Gulden, Puma CEO
- Louise Beveridge, Head of Corporate Communications
- Marie -Claire Daveu, Head of Sustainability
- Belen Essioux Trujillo, Director of Human Resources
Engagements
Sustainability
The strategy Kerings in sustainability is one of the key projects for over a decade. The basic values of Kering, which are summarized in the ethical mission statement of the company, shall be binding on all brands. This also includes the principle of sustainable growth, which is one of the most important principles of the Group. According to the principle of "Sustainable business is smart business " has François -Henri Pinault in April 2012 quantitative targets, both for the environment and for social projects. The Group has committed to achieve this by 2016.
In parallel, Kering developed an instrument to measure the ecological footprint of the Group - in English called " Environmental Profit & Loss account " (E P & L). This novel approach which was developed by Puma is, in 2016 extended to the entire group. Under the direction of Marie -Claire Daveu, 15 experts working in the sustainability department of Kering to implement these goals.
The Kering Foundation
The Kering Foundation, François -Henri Pinault person is president, is an important part of the commitment of Kering for a more sustainable world. It pursues its work two basic objectives: combating violence against women and support women on their way to self-reliance.
Since its foundation in 2009, the Foundation has established 47 partnerships with non-governmental organizations and thus supports more than 140 000 women in 16 countries. In line with the orientation of the Group, the Kering Foundation is mainly focused on three geographic zones: the American continent, Western Europe and Asia.
Several Kering brands lead their own social projects that are supported in part by the Kering Foundation. Of particular note here is the fundraising initiative of the Gucci brand " Chime for Change", which was launched in February 2013 and under the patronage of Frida Giannini, the head designer at Gucci, Salma Hayek Pinault and Beyoncé Knowles, women around the world with special attention begins on the areas of education, health and justice.