The artist luxury conglomerate formerly known as PPR is making moves.
The just-christened Kering has acquired a majority stake in one of the world’s largest tanneries, WWD is reporting.
PPR has left the building. It’s no longer a thing.
The name, that is.
As was rumored, the luxury conglomerate today announced that it will change its name to *drumroll please* …
Selena Gomez is on the new issue of Harper’s Bazaar holding a giant flower as a rather impractical umbrella. But is Justin Bieber’s maybe-ex squeeze a lil’ too lil’ to cover the grown-up glossy? {Refinery29}
Margherita Missoni is preggers with her first bambino. {Telegraph}
Survey says! Nordstrom is the most beloved retail chain in all the land. {WWD}
Identity crisis? French luxury goods group PPR is reportedly changing its name to Kering, meaning ‘dry’ in Indonesian. Dry goods! No, like I totally get it! {Business of Fashion}
There are just two days standing between us and what’s arguably this fashion month’s most highly-anticipated event: Alexander Wang’s debut for Balenciaga. So Suzy Menkes talked to him, Anna Wintour, PPR CEO François Henri Pinault, and, um, Danielle Steel to dig up some backstory, debunk some rumors, and find out what to expect from Wang’s elevated new role.
Everything about the fall 2013 show announced: Christopher Kane has made it to the big leagues.
Which is not surprising, since Proenza Schouler is like, always, the look.
Good things come to those who wait.
After speculation that Scottish designer Christopher Kane would take over the house of Balenciaga turned out to be only that—speculation—it has been announced that PPR, the luxury goods conglomerate that owns Balenciaga, as well as Alexander McQueen, Gucci and Yves Saint Laurent, now owns a 51% stake in Kane’s London-based fashion house.
Rumors have been swirling for months now that PPR is looking to invest in Christopher Kane‘s label. While we’ve yet to receive any sort of confirmation from either Kane or PPR, WWD is reporting that the deal is nearly done.
A month ago, when Nicolas Ghesquiere’s successor at Balenciaga was still an unknown, rumors began swirling that hot young London designer Christopher Kane was a shoe-in. Obviously, that turned out not to be true. Still, it seems possible that Kane could have a future with Balenciaga parent company PPR.
It’s no secret that PPR is interested in expansion. Both through different categories and new markets, like China.
Hitting two birds with one stone, the French luxury conglomerate has just bought a majority stake in Qeelin, a Chinese fine jewelry brand, WWD reports.
In addition to beefing up their “hard luxury” category (which refers to the jewelry and watch sector), the acquisition is one of many recent moves PPR has made to attract Chinese consumers–one of which, Financial Times‘ Vanessa Friedman claims was hiring Alexander Wang.
François-Henri Pinault, President and CEO of PPR, which owns Balenciaga, sat down for a lengthy Q & A session with CBS’s Rebecca Jarvis yesterday at the French Consulate in Paris. They discussed many things, like the “fiscal cliff,” ecommerce, the American market, and of course, the decision to install Alexander Wang at Balenciaga–which is all we’re interested in.
The most interesting nugget to come out of the interview was the mention of couture at Balenciaga.
Now that we know who is going to take the reins at Balenciaga (it’s Alexander Wang, in case you’ve been living under a rock), the next question on everyone’s minds is: What will change under the new designer?
Well, according to the CEO of Balenciaga’s parent company PPR, François-Henri Pinault, not a whole lot.
