PPR which boasts labels such as , , , and in its luxury portfolio is to be renamed Kering.
After weeks of speculation about the move, the news has been confirmed at a press conference in Paris. CEO François-Henri Pinault also unveiled the companys new logo: an owl with its wings spread.
PPR stands for Pinault-Printemps-Redoute, but Printemps was sold in 2006 and La Redoute is expected to go the same way before this year is out.
The introduction of the name Kering marks the start of a new era for the business, which recently emphasised its focus on empowering new creative talent with the acquisition of flourishing London label .
This will be underlined by the new tagline, Empowering Imagination.
If you really want to show off your fashion nous, the story behind the new name runs thus: Kering is taken from the French for house, commonly used in the region of Brittany where Pinault who is married to actress Salma Hayek grew up.
The change will take effect from 18 June.
