stake your turf
Posted by Sara Zucker on November 24, 2009 10:21 AM
Known almost as much for his personal life (Salma Hayek's new husband, he's profiled in today's Wall Street Journal) as his public one, PPR owner François-Henri Pinault is looking to sell some of his less glamorous brands in an effort to pay off debts. The businesses that will be pushed aside happen to generate 70% of group sales, but Pinault's goal is to focus on the clothing and accessories brands within its luxury Gucci Group and Puma. FT reports:
He is not interested in slimming PPR down to a pure luxury player and is looking to replace the lower-margin retail businesses with mid-market brands.
Out with the old and in with the new, wouldn't you say?Continue reading...