Retail

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]

Luxury

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 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.^[21]

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.^[22] In October 2015, Kering named Georgian-born designer Demna Gvasalia as creative director of Balenciaga.^[23] Kering appointed Daniel Lee as creative designer of Bottega Veneta in June 2018.^[24]

In 2014, Kering hired Roberto Vedovotto to launch its own eyewear manufacturing division, Kering Eyewear, and pilot its development.^[25] In March 2017, Richemont partnered with Kering Eyewear to produce Cartier, Alaïa, and Montblanc eyewear.^[26] 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.^[27] In March 2022, it was announced Kering Eyewear had acquired the Hawaiian eyewear brand Maui Jim.^[28] In March 2018, Kering agreed to sell its shares of Stella McCartney back to its eponymous owner.^[29] Kering spun off the brand Puma in 2018^[30] and sold Volcom the following year. In 2021, Kering led a $216-million investment round in the luxury resale website Vestiaire Collective^[31] and acquired 100% stake in the Danish luxury eyewear manufacturer Lindberg.^[32] In January 2022, the group announced its intention to sell its watches division, namely the brands Girard-Perregaux and Ulysse Nardin.^[33]

In October 2023, Kering announced that third quarter revenue was down 13%.^[34] 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 'aspirational' consumer spending. ^[35]

Description

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 2023, Kering made 19.6 billion euros in revenue. The group has 46,000 employees and 1,381 stores.^[1] On 24 January 2022 Kering announced the sale of its entire stake of GIRARD-PERREGAUX and ULYSSE NARDIN to their current management .^{[citation needed]}

Brands

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Social entrepreneurs sponsorship

Each year, three social entrepreneurs are selected for the economic viability and the social added value of their projects in favor of women, their families and communities. Each selected project proposer is awarded 15 000 euros, and also receives personal and business sponsoring as well as guidance from a Kering staff member.

• 2010
  • Sakina M’Sa, founder of the Trevo atelier in Paris
  • Maria-Teresa Leal, founder of the COOPA-ROCA, a women's cooperative in a Rio's favela in Brazil
  • Anne Roos-Weil, co-founder of the Pesinet association, fighting against infant mortality in Mali.
• 2012^[45]
  • Sophia Klumpp and Paul Grinvalds, for their social enterprise AFRIPads, encouraging the educational and vocational integration of girls in Uganda through offering washable sanitary pads. This project is sponsored by a Human Resources manager of Bottega Veneta, on communications and human resources strategies.
  • Delphine Kohler, for her organisation Filles du Facteur, supporting the empowerment of Burkinabian women through the production of crocheted accessories made from recycled plastic bags. This project will benefit from the guidance of a manager of Kering Strategy, on brand positioning and distribution strategy.
  • Miriam Espinoza and Patricia Marihuen, for the association Relmu Witral, preserving the traditional skills of the Mapuche women weavers in Chile. This project is supported by the Retail manager of Volcom, who will provide help and guidance with the redefinition of the product offer and marketing strategy.
• 2018^[46]
  • Beijing Yuanzhong Gender Development Center from China.
  • Callisto, from United States.
  • Chayn, from the United Kingdom.
  • Colori Vivi, from Italy.
  • du Pain & des Roses, from France.
  • GENDES, A.C. from Mexico.
  • Rebuild, Unite and Nurture, from China.

Awareness raising programs

The foundation supports initiatives fostering public information and awareness about violence against women and women's empowerment (education, training, professional integration, Income Generating Activities, etc.) for both Kering employees and the lay public. For example, the foundation has supported the movie, Desert Flower, for its release in 2010 in France:^[47] the movie is based on the true story of Waris Dirie, who was born in the Somali desert and who suffered excision before becoming an international top model.

Other projects

In 2012 the three winners are Alia Ruby Blade, Stargazing and The Supreme Price.^[48]