PPR set to acquire Chinese luxury brandWednesday, 11 July 2012
French luxury group PPR is in talks to acquire its first Chinese
luxury brand, according to reports. It would be the first Asian brand the company adds to its stellar portfolio of the word's leading fashion houses.
PPR's CEO, François-Henri Pinault, stated in an interview with Chinese reporters that talks are at an early stage and the acquisition may be completed by the end of the year. The identity of the brand has not yet been released.
PPR’s luxury division, which includes Gucci, Bottega Veneta, Yves Saint Laurent (recently renamed Saint Laurent Paris), Alexander McQueen, Balenciaga, Boucheron, Girard-Perregaux, Jeanrichard, Sergio Rossi and Stella McCartney, in 2011 recorded € 4,917 million in total revenues with the following breakdown per geographical area: 32% Asia-Pacific, 32% Western Europe, 18% North America, 13% Japan, and 5% remaining Countries.