Kering - Evolution of a Global Luxury Company
Kering is one of the world’s largest luxury goods holding companies. Headquartered in Paris, France, it employs more than 30,000 people globally. After luxury giant LVMH, Kering is the world’s second biggest luxury goods company in terms of revenues. The group is part of the CAC 40, which is the benchmark French stock market index. Headed by CEO and Chairman Francois-Henri Pinault, Kering is considered to be a pioneer in the introduction of sustainability initiatives in the luxury industry. Background Kering was founded in 1962 by Francois Pinault and was originally called Etablissements Pinault. The company in its initial years was involved in wood trade negotiation and construction materials. It was originally from Brittany, but grew via acquisitions and became a well-recognised national company in France. The company gradually entered the retail distribution market, with the acquisition of Conforama in 1991. In 1994, the group now called Pinault-Printemps-Redoute (PPR