Kering

In 1962, François Pinault opened the Établissements Pinault in Brittany (France) specialized in timber trading. The company became Pinault S.A.. In 1988, Pinault S.A. was listed on the Paris Stock Exchange.[2]

In 1989, Pinault S.A. purchased 20% of CFAO, a French distribution conglomerate active throughout Africa. In 1990, Pinault S.A. and CFAO merged, and François Pinault became head of the newly formed group. This accelerated its acquisitions in the retail sector: Conforama (French furniture retailer) in 1991, Printemps (department stores in France) in 1992, which also owned 54% of La Redoute (French mail-order shopping retailer), and Fnac (French bookstore, multimedia and electronics retailer) in 1994. To align with its new activities, the group was renamed Pinault-Printemps-Redoute in 1994.[2]

In 1999, Pinault-Printemps-Redoute purchased a controlling 42% stake of the Gucci group for $3 billion and 100% of Yves Saint Laurent.[3][4][5] After Gucci, Pinault-Printemps-Redoute acquired Boucheron (2000), Bottega Veneta (2001), Balenciaga (2001), and signed partnerships with Alexander McQueen and Stella McCartney.[6] In 2004, Pinault-Printemps-Redoute reached a 99.4% ownership of Gucci.[7]

In 2003, François Pinault handed over the helm of Artémis, the family holding company that controlled Pinault-Printemps-Redoute to his son François-Henri. In 2005, François-Henri Pinault became president and CEO of Pinault-Printemps-Redoute, succeeding to Serge Weinberg.[8] The group officially changed its name to PPR.[9] and continued acquiring luxury brands: The Sowind Group (owner of Girard-Perregaux) and Brioni (2011),[10] the Pomellato Group (Pomellato and Dodo, 2012),[11] Qeelin (2012),[12] Christopher Kane (2013),[13] Ulysse Nardin (2014).[14] To further this strategy, PPR offloaded its retail assets: Le Printemps (2006),[15] Conforama (2011),[16] CFAO (2012),[17] Fnac (2012), and La Redoute (2013).[18] PPR also developed a Sport & Lifestyle portfolio with the acquisition of Puma (2007),[8] Cobra Golf (2010),[19] and Volcom (2011).[20] Cobra and Volcom have since then been divested and Kering only holds a minority share in Puma.

In March 2013, PPR changed its name to Kering.

In December 2014, Alessandro Michele, a 12-year accessories designer at Gucci, was named PPR's creative director. In 2015, Kering named a new creative director, Anthony Vaccarello, to renew the brand's props.[21] In October 2015, Kering named Georgian-born designer Demna Gvasalia as creative director of Balenciaga.[22] Kering appointed Daniel Lee as creative designer of Bottega Veneta in June 2018.[23]

In 2014, Kering hired Roberto Vedovotto to launch its own eyewear manufacturing division, Kering Eyewear, and pilot its development.[24] In March 2017, Richemont partnered with Kering Eyewear to produce Cartier, Alaïa, and Montblanc eyewear.[25] In September 2019, Kering Eyewear opened a 15,000 square-metre logistics centre near Padua, Italy, with an annual output capacity of five million eyewear units.[26] In March 2022, it was announced Kering Eyewear had acquired the Hawaiian eyewear brand Maui Jim.[27] In March 2018, Kering agreed to sell its shares of Stella McCartney back to its eponymous owner.[28] Kering spun off the brand Puma in 2018[29] and sold Volcom the following year. In 2020, Kering made 13.1 billion euros in revenue, -17.9% from the previous year.[1] In 2021, Kering led a $216-million investment round in the luxury resale website Vestiaire Collective[30] and acquired 100% stake in the Danish luxury eyewear manufacturer Lindberg.[31] In January 2022, the group announced its intention to sell its watches division, namely the brands Girard-Perregaux and Ulysse Nardin.[32]

In October 2023, Kering announced that third quarter revenue was down 13%.[33] Pinault blamed this decline on the turnover of leadership in both business and creative aspects at multiple brands, as well as challenging macroeconomic conditions decreasing 'asperational' consumer spending. [34]

Kering's headquarters are located in the former Hopital Laennec in the 7th arrondissement of Paris. The parent holding company of Kering is Groupe Artémis. In 2020, Kering made 13.1 billion euros in revenue, down 17.5% from the previous year. The group has 30,956 employees and 1,381 stores. Kering's brands Gucci, Saint Laurent and Bottega Veneta generated 84% of the group's revenue. The leather goods, shoes, and ready-to-wear products represent 87% of the group's revenue. As of 2022, Gucci itself represented 60% of Kering's revenue and 70% of its profit. On 24 January 2022 Kering announced the sale of its entire stake of GIRARD-PERREGAUX and ULYSSE NARDIN to their current management.

• François-Henri Pinault - Chairman and CEO
• Jean-François Palus - deputy CEO
• Independent directors:
  • Yseulys Costes
  • Jean-Pierre Denis
  • Ginevra Elkann[37][38]
  • Sophie L'Hélias
  • Claire Lacaze
  • Baudouin Prot
  • Daniel Ricardi
  • Sapna Sood
  • Emma Watson
  • Héloïse Temple-Boyer[39]

• François-Henri Pinault - Chairman and CEO
• Jean-François Palus - Deputy CEO
• Francesca Bellettini - President and CEO Saint Laurent
• Marco Bizzarri - President and CEO Gucci
• Grégory Boutté : Chief Client and Digital Officer
• Jordan Alexander - Director and Marketing Gucci
• Cédric Charbit : CEO Balenciaga
• Marie-Claire Daveu - Chief Sustainability Officer and Head of Institutional Affairs
• Valérie Duport - Chief Communications and Image Officer
• Jean-Marc Duplaix - CFO
• Béatrice Lazat - VP Human Resources
• Bartolomeo Rongone - President and CEO Bottega Veneta
• Roberto Vedovotto - CEO Kering Eyewear