Kering could acquire Richard Mille

Following its official rebranding from PPR to Kering, the French conglomerate has announced the listing of Fnac (the books, DVDs retailer) on NYSE Euronext in Paris. The move is in line with the group’s new strategy to focus on luxury, in February this year having completed the sale of online mass market retailer Redcats for 275 million euros.

Last month, Kering bought Italian jeweler Pomellato, acquisition which could be followed by a 51% controlling stake in Swiss luxury watchmaker Richard Mille, in a deal estimated at 90 million euros. Kering also owns Swiss luxury watch maker Girard Perragaux and French jeweler and watch maker Boucheron.

Richard Mille boutique in Paris