Kering
French luxury group whose portfolio includes Gucci, Saint Laurent, Balenciaga, Bottega Veneta, and other fashion, jewelry, eyewear, and beauty businesses.
Last updated October 7, 2026
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Overview
Kering is a French multinational luxury group headquartered in Paris. Its origins lie in Établissements Pinault, a timber-trading business founded by François Pinault in Brittany in 1962. After listing on the Paris stock exchange in 1988, the company expanded into retail and distribution, acquiring interests in CFAO, Conforama, Printemps, La Redoute, and Fnac. The group adopted the name Pinault-Printemps-Redoute, or PPR, in 1994. The decisive transformation came at the end of the 1990s, when PPR acquired a controlling interest in Gucci Group and took full ownership of Yves Saint Laurent. Through Gucci Group, it subsequently built positions in luxury fashion, leather goods, jewelry, and watches, including Boucheron, Bottega Veneta, Balenciaga, Alexander McQueen, and Stella McCartney. PPR also pursued a separate sport and lifestyle strategy through investments in Puma, Cobra Golf, and Volcom, while gradually selling its earlier retail assets. In 2013, PPR was renamed Kering to signal its concentration on luxury and its broader international identity. The group has since emphasized brand development, direct retail, digital commerce, creative leadership, selective acquisitions, and vertical capabilities such as eyewear and beauty. Its principal houses have included Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, Qeelin, Girard-Perregaux, Ulysse Nardin, Creed, and Maui Jim, although the portfolio has changed through acquisitions and disposals. Gucci has historically been Kering's largest earnings contributor, while Saint Laurent and Bottega Veneta have become important growth engines. The group created Kering Eyewear in 2014 and later added Lindberg and Maui Jim. It acquired Creed in 2023, bought a minority interest in Valentino the same year, and established Kering Beauté to manage beauty development for its houses. Kering has also sponsored cultural initiatives, including Women In Motion at the Cannes Film Festival and later at the Rencontres d'Arles photography festival. Kering is controlled through Groupe Artémis, the investment holding company associated with the Pinault family, but Kering itself is publicly traded on Euronext Paris and has been part of the CAC 40 since 1995. François-Henri Pinault has chaired the group since 2005. Luca de Meo became chief executive in September 2025, succeeding a period in which the group sought to address slowing performance at Gucci and reduce its dependence on a single major house. Kering's current identity is that of a focused luxury platform rather than the diversified retail conglomerate from which it developed.
History
Kering began in 1962, when François Pinault established a timber-trading enterprise in Brittany with bank financing. The business expanded by acquiring regional timber companies and developing import infrastructure. By the 1980s, Pinault S.A. had become a substantial French timber trader, with a broad operating base and significant industrial capacity. The company went public in Paris in 1988. It then moved decisively into distribution and retail. In 1989 it purchased a minority position in CFAO, a distribution group active across Africa, and the two businesses merged in 1990. The enlarged group acquired Conforama in 1991, Printemps in 1992, and Fnac in 1994. Printemps also held a major stake in La Redoute. The corporate name became Pinault-Printemps-Redoute, abbreviated PPR. PPR's strategic center shifted toward luxury in 1999, when it acquired control of Gucci Group and purchased Yves Saint Laurent. The Gucci investment gave PPR access to a platform capable of consolidating prestigious independent houses. Boucheron joined in 2000, followed by Bottega Veneta and Balenciaga in 2001. Partnerships with Alexander McQueen and Stella McCartney further extended the fashion portfolio. François-Henri Pinault became general manager of Groupe Artémis, the family holding company, in 2003 and took the leadership of PPR in 2005. By the following year, PPR held nearly all of Gucci Group. During the 2000s and early 2010s, the group maintained both luxury and sport-lifestyle interests. It acquired Puma in 2007, Cobra Golf in 2010, and Volcom in 2011. Within luxury, it added Sowind, owner of Girard-Perregaux, and Brioni in 2011; Pomellato Group and Qeelin in 2012; and Christopher Kane and Richard Ginori in 2013. Ulysse Nardin was acquired in 2014. At the same time, PPR sold or separated its legacy retail assets, including Le Printemps, Conforama, CFAO, Fnac, and La Redoute. This process made the luxury strategy increasingly explicit. In March 2013, PPR became Kering. The new identity reflected a company organized around luxury houses rather than a collection of general retailers. Kering developed Gucci, Saint Laurent, Balenciaga, and Bottega Veneta as major pillars, while preserving the individual creative identities of its brands. The group also invested in direct distribution, international retail, digital channels, manufacturing capabilities, and sustainability programs. Kering Eyewear, established in 2014, gave the group a dedicated platform for luxury eyewear and later became the basis for acquisitions such as Lindberg and Maui Jim. The portfolio continued to evolve. Kering sold its interests in Stella McCartney in 2018 and Christopher Kane in 2019, and divested its watch division, including Girard-Perregaux and Ulysse Nardin, in 2022. It acquired Creed in 2023, bought 30 percent of Valentino, and launched Kering Beauté. Cultural positioning also became part of the group's public identity through Women In Motion, a program created with the Cannes Film Festival in 2015 and extended to the Rencontres d'Arles photography festival in 2019. Kering's growth in the second half of the 2010s and early 2020s was strongly influenced by Gucci. The brand's exceptional expansion increased the group's scale but also made consolidated performance more sensitive to Gucci's momentum. In 2023, reported group revenue declined as Gucci growth slowed. In September 2025, Luca de Meo became CEO, while François-Henri Pinault remained chairman. The leadership transition placed renewed emphasis on portfolio balance, operational discipline, and the reduction of dependence on one dominant house. Kering remains a publicly listed French luxury group controlled through Groupe Artémis and active across fashion, accessories, jewelry, eyewear, and beauty.
- 2025
Luca de Meo becomes CEO
[1]Luca de Meo takes over as chief executive while François-Henri Pinault remains chairman.
- 2023
Expansion into fragrance and Valentino
[1]Kering acquires Creed, takes a minority stake in Valentino, and launches Kering Beauté.
- 2015
Women In Motion begins
[1]Kering launches its cultural program with the Cannes Film Festival to recognize women's contributions to cinema.
- 2014
Kering Eyewear established
[1]Kering creates an in-house luxury eyewear platform.
- 2013
PPR renamed Kering
[1]The corporate identity changes to Kering as the company concentrates on luxury.
- 2005
François-Henri Pinault becomes group leader
[1]François-Henri Pinault is appointed president and CEO of PPR.
- 1999
Entry into luxury through Gucci
[1]PPR acquires a controlling stake in Gucci Group and obtains full ownership of Yves Saint Laurent.
- 1994
PPR name adopted
[1]Following the acquisition of major retail businesses, the group is renamed Pinault-Printemps-Redoute.
- 1988
Listing on the Paris stock exchange
[1]Pinault S.A. becomes publicly traded and begins a major expansion into distribution and retail.
- 1962
Établissements Pinault founded
[1]François Pinault establishes a timber-trading business in Brittany, creating the foundation of the future group.
Products and positioning
A global, multi-house luxury group focused on premium fashion, leather goods, jewelry, watches, eyewear, and beauty, with an emphasis on brand autonomy, creative distinctiveness, cultural influence, and sustainability.
Luxury fashion and leather goods house
Gucci
Gucci is Kering's largest and most internationally prominent house, offering handbags, small leather goods, footwear, ready-to-wear, jewelry, watches, and related accessories. Its scale and financial contribution have made it central to Kering's performance and strategic planning.
Luxury fashion and leather goods house
Saint Laurent
Saint Laurent produces ready-to-wear, handbags, footwear, accessories, jewelry, and beauty-related products. Under Kering, the house developed into a major global luxury business while maintaining a sharp Parisian fashion identity.
Luxury leather goods and fashion house
Bottega Veneta
Bottega Veneta is known for leather craftsmanship, handbags, footwear, ready-to-wear, and accessories. It became one of Kering's major houses after joining the group in 2001 and later surpassed one billion dollars in sales in 2012.
Luxury fashion house
Balenciaga
Balenciaga offers ready-to-wear, footwear, handbags, accessories, and other fashion products. Kering developed the house as a highly distinctive and disruptive label within its luxury portfolio.
Luxury eyewear platform · 2014
Kering Eyewear
Kering Eyewear designs, produces, and distributes eyewear for luxury brands. It provides an internal platform serving Kering houses and expanded through the additions of Lindberg and Maui Jim.
Luxury jewelry and watches
Boucheron
Boucheron is a historic jewelry house in Kering's portfolio, with activities centered on high jewelry, fine jewelry, watches, and related luxury accessories.
Luxury jewelry
Pomellato
Pomellato is an Italian jewelry house acquired through Pomellato Group. Its portfolio is associated with contemporary fine jewelry and distinctive colored-gemstone designs.
Luxury fragrance
Creed
Creed is a prestige fragrance business acquired by Kering in 2023, extending the group into high-end perfumes and strengthening its beauty and fragrance capabilities.
Marketing campaigns
- 2019Women In Motion at Rencontres d'Arles
France · International
Kering extended the Women In Motion platform to the Rencontres d'Arles photography festival, broadening its support for women's work beyond cinema.
Outcome. The extension reinforced Kering's cultural-positioning strategy across film and photography.
- 2015Women In Motion
International · France
Kering created Women In Motion in partnership with the Cannes Film Festival to highlight women's creative contributions to cinema through talks, recognition, and awards.
Outcome. The program became a recurring cultural initiative and was later extended to photography through the Rencontres d'Arles.
Brand decisions
2025
Appoint Luca de Meo as CEOStrategyBackground
Kering faced slower performance at Gucci and sought to reduce the group's dependence on that house.
Action taken
Luca de Meo became chief executive in September 2025.
Aftermath
The appointment marked a new phase of strategic and operational review under a new CEO.
2023
Expand into Creed and ValentinoM&ABackground
Kering sought to broaden its luxury portfolio beyond its established fashion houses.
Action taken
The group acquired Creed and purchased a 30 percent interest in Valentino.
Aftermath
The transactions expanded Kering's exposure to fragrance and Italian luxury fashion.
2014
Create Kering EyewearStrategyBackground
The group sought greater control over product development and distribution in luxury eyewear.
Action taken
Kering established an in-house eyewear production and management platform.
Aftermath
The platform became a significant group activity and later expanded through acquisitions.
2013
Rename PPR as KeringStrategyBackground
The company had divested much of its former retail portfolio and was increasingly organized around luxury houses.
Action taken
PPR adopted the Kering name and repositioned its corporate identity around luxury.
Aftermath
The new name established a clearer global identity for the luxury group.
1999
Acquire control of Gucci GroupM&ABackground
PPR sought to move from general retail and distribution into global luxury.
Action taken
The group purchased a controlling interest in Gucci Group and acquired Yves Saint Laurent.
Aftermath
The transaction became the foundation for PPR's transformation into a luxury-focused group.
Recent events
- Unconfirmed
开·云 launches mobile service[3]
开·云 announced that its mobile website service had officially launched.
Kering appoints Matthieu Blazy as Bottega Veneta creative director[4]
Reported:
Kering appointed Matthieu Blazy as creative director of Bottega Veneta. The report says he made the appointment announcement on Monday.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
Kering launches Women in Motion online community platform in China[5]
Reported:
Kering launched its Women in Motion online community platform in China, presenting it as a platform celebrating women artists across fields.
Kering sells a 5.9% stake in Puma[6]
Reported:
Kering sold a 5.9% stake in Puma through a placement to investors for approximately €805 million and said it would retain approximately 4% of Puma's outstanding shares.
Kering and Kerby Jean-Raymond launch Your Friends in New York[7]
Reported:
Fashion designer Kerby Jean-Raymond launched the Your Friends in New York creative platform in collaboration with Kering. The platform includes fashion, music, philanthropy, art and wellness divisions, as well as an incubator program and other initiatives.
- Unconfirmed
Kering reports 2019 financial results[8]
Reported:
Kering reported its 2019 fiscal-year results, including revenue growth of 16.2% to €15.88 billion.
Kering brands close half of mainland China stores[9]
Reported:
Kering said that its Gucci, Balenciaga and YSL brands had closed half of their stores in mainland China, with the remaining stores operating shorter hours.
Kering announces Mehdi Benabadji as Brioni CEO[10]
Kering announced Mehdi Benabadji's appointment as CEO of Brioni, effective January 1, 2020. He would succeed Fabrizio Malverdi, who had decided to leave the group.
Sources10 sources
- 1Keringen.wikipedia.org
- 2Kering official websitekering.com
- 3开·云移动端服务上线chuzhou.cn
- 4开云集团任命Matthieu Blazy为葆蝶家创意总监omanobserver.om
- 5开云集团在中国推出“跃动她影”线上社群平台prnasia.com
- 6开云集团出售彪马5.9%的股份rte.ie
- 7Kering与Kerby Jean-Raymond推出Your Friends in New Yorkbusinessinsider.com
- 8开云集团公布2019财年业绩tech.sina.com.cn
- 9开云旗下品牌关闭中国大陆一半门店epochtimes.com
- 10开云宣布Mehdi Benabadji出任Brioni首席执行官fibre2fashion.com
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