The French luxury conglomerate PPR is ready to sell two of its businesses – catalogue fashion store La Redoute and FNAC – as per focus on its luxury goods divisions, according to the French ‘Le Journal du Dimanche’. In the same line, ‘Le Figaro’
talked about PPR’s plans to sell both La Redoute and FNAC to focus on its high-end brands, which include the likes of Volcom or Gucci. PPR’s top management are said to be set to meet this week to endorse the decision, French newspaper ‘Journal du Dimanche’ said Sunday, citing multiple unidentified sources.
CEO Francois-Henri Pinault said last week that PPR would make an announcement about the planned sale of its Redcats mail order business before disclosing third-quarter results on October 25, reminded Reuters. It’s worthy of note to remember that La Redoute is part of the Redcats business unit.
PPR has been progressively pulling out of its low-growth retail operations to focus on more-profitable luxury labels – described by the company already as its core business - like Gucci, as well as its lifestyle and sports brand, Puma.