PPR To Shed Retail Brands To Restore Fashion Focus

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...