Kering, the luxury conglomerate formerly named PPR, announced on Friday that it had taken a minority stake in Altuzarra, the label started in 2008 by the French-American designer Joseph Altuzarra.
Joseph Altuzarra’s namesake label is one of the hottest young brands in fashion, with his clothes regularly spotted on red carpet-trotting celebrities including Jessica Paré and Jennifer Lawrence.
“This partnership will allow us to take the Altuzarra brand to the next stage of its development in accordance with my creative vision. I could not be happier or more proud!” said Altuzarra.
Born in 1983 to a French father and a Chinese-American mother, the young designer somewhat spans the transatlantic fashion divide, and set up his own label in New York City, having previously worked as assistant to Givenchy creative director Riccardo Tisci in Paris.
The move comes as Kering looks to establish its stronghold among the next generation of fashion designers. In January this year the company announced that it had purchased a 51 percent stake in the highly rated London fashion label Christopher Kane.
PPR had previously invested in (then emerging) designers Stella McCartney and Alexander McQueen, growing the two labels into global brands.
French luxury and sports brand group Kering – formerly known as PPR – said it bought Italian jeweler Pomellato for an undisclosed amount.
The company’s success is based on the personality and style of its creations with a blend of colors, stones and shapes as well as their fine Italian craftsmanship.
The Pomellato group is a profitable and growing Italian business with two brands, Pomellato and Dodo. The first positioned within the fine jewelry segment and the latter within the accessible jewelry segment.
Its distribution network includes 86 mono-brand stores (45 Pomellato, 41 Dodo) as well as approximately 600 independent points of sale around the world.
There is plenty of room for growth for this company and Kering said its expertise and resources in real estate, distribution, media and brand management will help in that area.
PPR did not say how much it paid for Pomellato, which had 2012 revenue of 146 million euros ($190 million), but a banking source told Reuters last month the deal would value the business at around 350 million, or 15 times core profit.
The acquisition comes following Kering’s recent re-branding and name change, and is the firm’s first investment since welcoming Christopher Kane into its stable of brands in January.
Within PPR/Kering, Pomellato will complement its other jewelry brands: high-end Boucheron, based on Paris’ Place Vendome, and Qeelin, a midprice Chinese jeweler PPR bought last year.
PPR, the owner of some of the world’s biggest luxury brands (Gucci, Yves Saint Laurent, Balenciaga, Alexander McQueen and Stella McCartney), is rebranding itself to help complete a tr ansformation.
From June 18, the business formerly known as PPR (originally Pinault-Printemps-Redoute) will be called Kering (the word has its origins in the Breton language, meaning ‘house’). Kering also unveiled a visual identity includuing an owl logo with a heart-shaped face, and a new tagline “Empowering Imagination.”
Founded in 1963 by businessman François Pinault, the company is now run by his son François-Henri Pinault and has been a publicly-traded entity since 1988. The transition to a luxury holding began with an investment in 1999 in the Italian leather goods specialist and fashion brand Gucci Group.
Kering also own sports brand Puma, and in January this year purchased a 51 percent stake in emerging London design talent Christopher Kane.
Young Scottish design talent Christopher Kane has seen French luxury holding PPR invest in his label. A new store and second line are expected for 2014.
French luxury giant PPR, the owner of Gucci, Yves Saint Laurent and Balenciaga, has bought Chinese jeweller Qeelin for an unnamed sum.
In an interview with WWD, PPR boss François-Henri Pinault has hinted that Balenciaga may make a return to the haute couture calendar.
PPR has named Alexander Wang creative director of its Balenciaga fashion and accessories brand to replace Nicolas Ghesquière, who quit last month.
Nicolas Ghesquière, the creative director at Parisian label Balenciaga, will be parting ways with the label at the end of the month announced PPR, the owners of the brand.
Francois-Henri Pinault is a French businessman and the Chief Executive Officer of Pinault-Printemps-Redoute (PPR), a Paris-based congolmerate that owns Gucci, Yves St. Laurent and Bottega Veneta; his family is worth an estimated $11.5 billion.
He is also the son of the PPR’s founder, businessman François Pinault, and husband of famous actor Salma Hayek.
For his 50th birthday it seems that Mr. Pinault’s father (Francois Pinault) bought him a Greubel Forsey GMT watch, which reportedly retails for £325,000, or about $500,000.
Hedi Slimane, a former designer for Dior Homme is to take over as creative director at Yves Saint Laurent, YSL and its parent company PPR confirmed on Wednesday.
Slimane is “named creative and image director” and “will take on artistic responsibility for the brand and all the collections.
In parallel with his new job, he will continue his career as a photographer, a joint statement said. The announcement came on the last day of Paris Fashion Week.
François Pinault, founder of luxury conglomerate PPR, has just paid $32 million for a historic mansion in the Chelsea neighborhood of London.
It was designed, according to The Telegraph, in 1868 by Philip Webb, the ‘Father of Arts and Crafts architecture.’ It also has triple-height ceilings.
The house was previously owned by Professor Bernard Nevill who bought the house for approximately $110,000 and spent over “30 years perfecting the interior”.
French luxury products giant PPR said on Tuesday it was acquiring Italian high-end menswear brand Brioni, in line with the restructuring of its business.
PPR has “signed an accord with Brioni shareholders to acquire 100 percent of the capital,” it said in a statement, without giving a figure for the deal.
PPR head Francois-Henri Pinault said this acquisition “completes our portfolio of luxury brands … in the mens’ ready-to-wear segment,” which is growing fast.
French retailer and luxury goods giant PPR announced Monday the launch of a capital increase reserved for Group Sowind after which it will become the majority shareholder of the company with 50.1% of the capital.
Sowind Group, one of the few independent Swiss watch manufacturers with a presence in 60 countries including the brands Girard-Perregaux and JeanRichard.
PPR, which already held 23% stake in the company did not specify the amount of the transaction.
Gucci have created a limited edition bracelet to help support the relief efforts in earthquake and tsunami ravaged Japan.
Featuring a white-red-white web that recalls the colors of the Japanese flag, the bracelet carries a medal with a message that reads, “Gucci loves you.”
The bracelet will go on sale in Gucci stores throughout Japan tomorrow, followed by worldwide distribution in Gucci flagships stores in Europe, United States and Asia.
Champagne corks are popping again in the luxury business as “It” bags and expensive watches this year sell like hotcakes from Beijing to New York, signalling the turning of a page after the global financial crisis.
As the owner of Gucci and Yves Saint Laurent, French luxury goods giant PPR, on Friday joined a string of high-end brands reporting ballooning 2010 profits, firms and consultants predicted rosy days ahead for luxury goods.
“The recession’s starting to look like an old memory for the luxury industry,” said analyst Matthew Curtin, quoted by Dow Jones Newswires.
PPR chief executive Francois-Henri Pinault said of the group’s doubled first half net profits, “very good results … in an economic environment that remains hesitant.”
Yet another Fall 2010 advertising campaign has emerged, this one from French fashion house Yves Saint Laurent and starring supermodel Daria Werbowy.
The newads were shot by husband-and-wife team Inez van Lamsweerde and Vinoodh Matadin, while YSL designer Stefano Pilati played creative director.
Werbowy was shot on the spiraling staircase inside the HÃ´tel de Clermont-Tonnerre, which is the Paris headquarters of Artemis, the holding company for Yves Saint Laurent parent PPR.
French luxury group PPR said Thursday that it will maintain Alexander McQueen’s label after the British designer committed suicide last week.
“This would be the best tribute that we could offer to him,” said Francois-Henri Pinault, president of the group, at a meeting in Paris to present company results.
The flamboyant 40-year-old McQueen, one of Britain’s most lauded designers, hanged himself in his London apartment on February 11 after leaving a note.
French luxury and retail group PPR managed to post first-half profits that beat forecasts despite a slump in spending on luxury goods in Japan and US department stores.
PPR made an operating profit of 707 million euros in the six months to June 30, down from 743 million euros in the year-ago period.
The retailer is behind Gucci Group, which is one of the worldâ€™s leading multi-brand luxury companies with a portfolio of premier brands.
Gucci plans to open two to four more stores this year in China, after opening its 28th on Saturday, undeterred by uncertainty in the global economy as China is set to lead future luxury consumption.
For the moment, China’s $8 billion luxury market accounts for just 3 percent of global sales, compared with 38 percent in Europe, 33 percent in South and North America and 12 percent in Japan.
But China (and Brazil!) are projected to be the two fastest-growing luxury markets through 2012, according to consulting firm Bain & Co.
Boucheron celebrates the launch of the movie “HOME”, for which its parent company PPR is the exclusive worldwide partner.
Precious metals and gems are amongst the earth’s most precious gifts and on this occasion, the House has especially created “The Magnetic Quatre”, a unique combination of four golds.
The amalgamation of different golds and textures of this unique product symbolizes our planet’s four elements; wood, air, water and earth and reminds us of their fragile balance.