Pinault (PPR – Gucci Group), ready to spend 4 billion euros for the acquisition of a major brand
PPR (Gucci Group) owner, Francois Pinault, the second richest Frenchman running a portfoliio of luxury brands, has sold key non-strategic assets such as Conforama (second largest furniture retailer in France). For other non-strategic companies such as Redcats and Fnac, Pinault is looking at an stock exchange listing as well as possible direct sale.
His group has at least 4 billion euros in cash, which Pinault confirms are allocated to a strategic acquisition. Without confirming specific brands, the obsvious short list is Lacoste, Moncler and Burberry. With the current international crisis in various key emerging regions, all three brands might see a devaluation, thefore, a ”package” buy seems feasible.