In June French luxury group PPR is changing its name to Kering. According to the company the name change has to emphasize the transition of the company from a French retail conglomerate to an international specialist in luxury and sporting goods. Last year, only 5% of total sales (9.7 billion euro) were realised in France.
Kering: tradition and future
The rumours of earlier this month are becoming reality: the group Pinault-Printemps-Redoute is taking on an English name to confirm its international status and to keep up with current realities: Printemps (sold in 2006) and Redoute (to be sold this year) are no longer part of the future of the company.
The name holds three references: ‘Ker’ is the Breton word for ‘home’ (the family Pinault originates from Brittany), the ‘ing’ is an English suffix referring to the global future of the company, and the whole name is pronounced as ‘caring’.
New logo for 50th birthday
The new name will be accompanied by a new logo that represents an owl: the symbol for wisdom, but also the favourite animal of PPR-founder François Pinault, the father of the current CEO. François Pinault founded the company in 1963, meaning the name change will coincide with the company’s fiftieth birthday.
PPR is the company behind brands such as Yves Saint Laurent, Gucci, Sergio Rossi and Puma, all of which are globally renowned. The last two branches of the company that are not global brands, books and music chain Fnac and mail order company La Redoute, will be sold this year.