A French Company Acquires Another Prestigious Italian Jewelry Brand

Tilda Swinton, a spokesperson for Pomellato.

Less than two years after French conglomerate LVMH acquired luxury Italian jewelry brand Bulgari; its French competitor, holding company Kering, finalized its acquisition of Italian jewelry brand Pomellato.

The agreement for Kering to purchase a majority stake in Pomellato was announced in April. On Thursday, Kering, formerly known as PPR, announced in a brief statement that the agreement received clearance from the antitrust authorities and has been finalized.

Pomellato was one of the few truly prestigious independent Italian jewelry brands left to acquire. The brand was founded by Pino Rabolini in Milan in 1967, pioneering the concept of ready-to-wear jewelry. The idea was that jewelry is not just a status symbol but an accessory to be worn and replaced at any time of the day. The current CEO, Andrea Morante, will remain in this position with the company.

Pomellato ranks among the top five European jewelers by sales, with 2012 revenues of €146 million ($190 million). It has a distinct style, an international following and an aura of exclusivity. The brand is known for its colorful rounded cabochon gems and its tactile forms. For example, pavé patterns are created with gemstones of various sizes and irregular forms. In recent years, the company was also known for its advertising partnership with actress Tilda Swinton, who appeared in company photographs and videos.

In 1995, Pomellato launched a second brand, Dodo, an accessible line of 18k gold charms in the shapes of animals. The name, after an extinct bird, was chosen as a way to exemplify the need to protect nature. The brand supports the Italian World Wildlife Fund, working to prevent the extinction of other animal species.

Pomellato’s distribution network includes 86 mono-brand stores (45 Pomellato, 41 Dodo) as well as approximately 600 independent points of sale around the world. More importantly for Pomellato and Kering is that there is plenty of room for growth. Pomellato has expressed an interest to extend its international distribution. Kering, with its immense size as an international player in the apparel and accessories markets, can fuel that growth.

Kering is present in more than 120 countries and generated revenues of €9.7 billion ($12.4 billion) in 2012. With the acquisition Pomellato finalized, the company now has a majority stake in 19 brands that include international luxury fashion brands Gucci, Bottega Veneta and Saint Laurent; French luxury jewelry brand, Boucheron; Chinese luxury jewelry brand, Qeelin; luxury Swiss watch brands, Girard-Perregaux and Jewn-Richard; and sports brand, Puma.

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes Website.

Tilda Swinton, a spokesperson for Pomellato.

Less than two years after French conglomerate LVMH acquired luxury Italian jewelry brand Bulgari; its French competitor, holding company Kering, finalized its acquisition of Italian jewelry brand Pomellato.

The agreement for Kering to purchase a majority stake in Pomellato was announced in April. On Thursday, Kering, formerly known as PPR, announced in a brief statement that the agreement received clearance from the antitrust authorities and has been finalized.

Pomellato was one of the few truly prestigious independent Italian jewelry brands left to acquire. The brand was founded by Pino Rabolini in Milan in 1967, pioneering the concept of ready-to-wear jewelry. The idea was that jewelry is not just a status symbol but an accessory to be worn and replaced at any time of the day. The current CEO, Andrea Morante, will remain in this position with the company.

Pomellato ranks among the top five European jewelers by sales, with 2012 revenues of €146 million ($190 million). It has a distinct style, an international following and an aura of exclusivity. The brand is known for its colorful rounded cabochon gems and its tactile forms. For example, pavé patterns are created with gemstones of various sizes and irregular forms. In recent years, the company was also known for its advertising partnership with actress Tilda Swinton, who appeared in company photographs and videos.

In 1995, Pomellato launched a second brand, Dodo, an accessible line of 18k gold charms in the shapes of animals. The name, after an extinct bird, was chosen as a way to exemplify the need to protect nature. The brand supports the Italian World Wildlife Fund, working to prevent the extinction of other animal species.

Pomellato’s distribution network includes 86 mono-brand stores (45 Pomellato, 41 Dodo) as well as approximately 600 independent points of sale around the world. More importantly for Pomellato and Kering is that there is plenty of room for growth. Pomellato has expressed an interest to extend its international distribution. Kering, with its immense size as an international player in the apparel and accessories markets, can fuel that growth.

Kering is present in more than 120 countries and generated revenues of €9.7 billion ($12.4 billion) in 2012. With the acquisition Pomellato finalized, the company now has a majority stake in 19 brands that include international luxury fashion brands Gucci, Bottega Veneta and Saint Laurent; French luxury jewelry brand, Boucheron; Chinese luxury jewelry brand, Qeelin; luxury Swiss watch brands, Girard-Perregaux and Jewn-Richard; and sports brand, Puma.

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes Website.

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Kering Acquires Pomellato

Tilda Swinton, brand ambassador for Pomellato.

The rumors have been swirling for some time but now they are verified.  PPR, which will soon officially change its name to Kering, has acquired Pomellato, the Italianjewelry company that has both broad and growing appeal.

Kering will hold a majority stake in the Pomellato group and its CEO, Andrea Morante, will remain in this position with the company.

Pomellato, whose 2012 revenues reached €146 million ($190 million), is one of Europe’s major jewelry groups, with a strong international position. The company’s success is based on the personality and style of its creations with a blend of colors, stones and shapes as well as their fine Italian craftsmanship. The Pomellato group is a profitable and growing Italian business with two brands, Pomellato and Dodo. The first positioned within the fine jewelry segment and the latter within the accessiblejewelry segment. Its distribution network includes 86 mono-brand stores (45 Pomellato, 41 Dodo) as well as approximately 600 independent points of sale around the world. There is plenty of room for growth for this company and Kering said its expertise and resources in real estate, distribution, media and brand management will help in that area.

With this acquisition, Kering is extending and reinforcing its portfolio of luxury brands in the high growth jewelry market.

“Synonymous with Italian style, Pomellato and Dodo rank among the most beautiful and innovative jewelry brands in the world,” said François-Henri Pinault, chairman and CEO of Kering . “We have great ambitions for the Pomellato group, which, with access to our expertise and know-how, will be able to step up the pace of its growth and expand its geographic footprint while preserving the values that underpin its Italian identity.”

Andrea Morante, CEO of Pomellato, added: “Becoming global brands is no longer an option for Pomellato and Dodo; it is a necessity. With this consideration in mind, we have undertaken a lengthy review of our best strategic alternatives and reached the conclusion that joining Kering was far and away the most favorable course of action. First, we will instantly join one of the most prestigious groups in the world; second, we will have a unique opportunity to preserve and enhance the Pomellato and Dodo success stories on a global scale.”

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes Website.

Tilda Swinton, brand ambassador for Pomellato.

The rumors have been swirling for some time but now they are verified.  PPR, which will soon officially change its name to Kering, has acquired Pomellato, the Italianjewelry company that has both broad and growing appeal.

Kering will hold a majority stake in the Pomellato group and its CEO, Andrea Morante, will remain in this position with the company.

Pomellato, whose 2012 revenues reached €146 million ($190 million), is one of Europe’s major jewelry groups, with a strong international position. The company’s success is based on the personality and style of its creations with a blend of colors, stones and shapes as well as their fine Italian craftsmanship. The Pomellato group is a profitable and growing Italian business with two brands, Pomellato and Dodo. The first positioned within the fine jewelry segment and the latter within the accessiblejewelry segment. Its distribution network includes 86 mono-brand stores (45 Pomellato, 41 Dodo) as well as approximately 600 independent points of sale around the world. There is plenty of room for growth for this company and Kering said its expertise and resources in real estate, distribution, media and brand management will help in that area.

With this acquisition, Kering is extending and reinforcing its portfolio of luxury brands in the high growth jewelry market.

“Synonymous with Italian style, Pomellato and Dodo rank among the most beautiful and innovative jewelry brands in the world,” said François-Henri Pinault, chairman and CEO of Kering . “We have great ambitions for the Pomellato group, which, with access to our expertise and know-how, will be able to step up the pace of its growth and expand its geographic footprint while preserving the values that underpin its Italian identity.”

Andrea Morante, CEO of Pomellato, added: “Becoming global brands is no longer an option for Pomellato and Dodo; it is a necessity. With this consideration in mind, we have undertaken a lengthy review of our best strategic alternatives and reached the conclusion that joining Kering was far and away the most favorable course of action. First, we will instantly join one of the most prestigious groups in the world; second, we will have a unique opportunity to preserve and enhance the Pomellato and Dodo success stories on a global scale.”

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes Website.

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PPR To Become Kering

François-Henri Pinault, PPR chairman and CEO, poses with the company's new name and logo, which is expected to become official on June 18.

French holding group, PPR, said Friday that it will change its name and brand messaging to reflect its new identity as an international luxury, sports and lifestyle organization.

On June 18, subject to board approval, the new name for the company will be Kering (pronounced Caring). The Paris-based company said the new name reflects its culture of “taking care of our brands, people, stakeholders and the environment.” The suffix “ing” expresses the idea of movement, reflecting the diverse history of the 50-year-old company, which began as a trader of timber and construction materials. The stem “ker,” meaning home in Breton, refers to its origins in the Brittany region of France.

Since 2005, PPR has been undergoing a transformation from a conglomerate focused on primarily European distribution activities, to an international group focused on the apparel and accessories business across two fast growing segments that it defines as “Luxury” and “Sport & Lifestyle.” In a few months, the new group expects to leave the distribution sector completely, after disposing of Fnac and the remainder of online fashion retailer Redcats.

The company’s collection of brands include Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, Stella McCartney, Boucheron, Girard-Perregaux, Qeelin, Puma, Volcom, Cobra, Electric and Tretorn.

Laurent Claquin, head of PPR Americas, said the change in the company’s identity is a natural step in the group’s transformation.

“We are marking a transition from a conglomerate to an integrated group,” he said. “We are in the business of fashion. We are also part of the same group (as) a way to signify how we do our business with our brands and customers.”

Claquin refused to comment on published reports that the company is in the final stages of acquiring luxury Italian jewelry brand, Pomellato. “It is not the subject of the day,” he said.

Accompanying the new name are new symbols for the company and an international branding strategy over multiple platforms that it emphasis the creativity of its brands. A new video, website and advertising campaign and supporting items are among the ways the company intends to promote its new image. Digital media will be a centerpiece of the campaign. Follow this link to view the company's new video.

As part of the strategy, the company adopted a new symbol, the “untamed” owl, and even a company signature that reads: “empowering imagination.”

The owl is drawn from a single line, like a quick sketch, a doodle even, with outstretched wings and its face framed in a heart. This simple drawing expresses far reaching values, according to the company, from foresight, wisdom and intelligence to caring and respect.

Claquin emphasized that the new campaign is geared toward the B-2-B community and not the general public. “We don’t communicate through a general public,” he said. “We don’t want to be stronger than our brands but we do communicate to our target populations.”

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes Website.

François-Henri Pinault, PPR chairman and CEO, poses with the company's new name and logo, which is expected to become official on June 18.

French holding group, PPR, said Friday that it will change its name and brand messaging to reflect its new identity as an international luxury, sports and lifestyle organization.

On June 18, subject to board approval, the new name for the company will be Kering (pronounced Caring). The Paris-based company said the new name reflects its culture of “taking care of our brands, people, stakeholders and the environment.” The suffix “ing” expresses the idea of movement, reflecting the diverse history of the 50-year-old company, which began as a trader of timber and construction materials. The stem “ker,” meaning home in Breton, refers to its origins in the Brittany region of France.

Since 2005, PPR has been undergoing a transformation from a conglomerate focused on primarily European distribution activities, to an international group focused on the apparel and accessories business across two fast growing segments that it defines as “Luxury” and “Sport & Lifestyle.” In a few months, the new group expects to leave the distribution sector completely, after disposing of Fnac and the remainder of online fashion retailer Redcats.

The company’s collection of brands include Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, Stella McCartney, Boucheron, Girard-Perregaux, Qeelin, Puma, Volcom, Cobra, Electric and Tretorn.

Laurent Claquin, head of PPR Americas, said the change in the company’s identity is a natural step in the group’s transformation.

“We are marking a transition from a conglomerate to an integrated group,” he said. “We are in the business of fashion. We are also part of the same group (as) a way to signify how we do our business with our brands and customers.”

Claquin refused to comment on published reports that the company is in the final stages of acquiring luxury Italian jewelry brand, Pomellato. “It is not the subject of the day,” he said.

Accompanying the new name are new symbols for the company and an international branding strategy over multiple platforms that it emphasis the creativity of its brands. A new video, website and advertising campaign and supporting items are among the ways the company intends to promote its new image. Digital media will be a centerpiece of the campaign. Follow this link to view the company's new video.

As part of the strategy, the company adopted a new symbol, the “untamed” owl, and even a company signature that reads: “empowering imagination.”

The owl is drawn from a single line, like a quick sketch, a doodle even, with outstretched wings and its face framed in a heart. This simple drawing expresses far reaching values, according to the company, from foresight, wisdom and intelligence to caring and respect.

Claquin emphasized that the new campaign is geared toward the B-2-B community and not the general public. “We don’t communicate through a general public,” he said. “We don’t want to be stronger than our brands but we do communicate to our target populations.”

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes Website.

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Luxury Brands Lift PPR’s Sales and Profit for 2012

PPR, the Parisian holdings company, said net profit in 2012 increased by 28.2 percent to €1.27 billion ($1.7 billion). Revenue increased 20.8 percent to €9.73 billion ($13 billion).

The company, which has divided its high-end businesses into the categories of luxury and sport and lifestyle, said its luxury goods division reported a 27.6 percent increase in operating profit to €1.61 billion ($2.14 billion). This more than offset a 12.1 percent decline in operating profit in its sports and lifestyle division.

The company’s brands include Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, Stella McCartney, Sergio Rossi, Boucheron, Girard-Perregaux, JeanRichard, Qeelin and Puma. 

Read PPR Shopping for Jewelry and Watch Brands

“PPR's results for 2012 are excellent, thanks to the exceptional performances of all brands in our luxury division,” said François-Henri Pinault, PPR chairman and CEO. “Our strong performance also highlights the good geographic balance of our activities and the consistency of the Group's strategy.”

The company, which operates in more than 120 countries, said revenue generated outside the Eurozone rose 11.6 percent in 2012 based on comparable data and accounted for 78.6 percent of sales for the year, versus 77.9 percent in 2011. Sales contribution from France remained unchanged from 2011, representing 5.5 percent of total revenue on a comparable basis.

In 2012, PPR said it continued its expansion in rapid-growth markets where revenue advanced 13.7 percent on a comparable basis and accounted for 37.6 percent of sales, representing a 100 basis-point increase on 2011 on a comparable basis. Sales in the Asia-Pacific region (excluding Japan) accounted for 25 percent of the total sales of the Group's brands versus 24.5 percent in 2011 on a comparable basis.

The company also is in the process of strengthening its position in the luxury and sports and lifestyle categories while divesting its holdings in other areas. For example, in December 2012, it acquired of a majority stake in Chinese luxury jewelry brand, Qeelin, and last month announced it acquired a majority stake in the luxury designer brand, Christopher Kane. It is also announced in January that it has found a buyer for Redcats children and family divisions.

The company added that it’s in the process of speeding up and expanding the scope of its transformation of Puma “in order to increase efficiencies in terms of organization, processes and systems and to streamline its cost structure, notably in Europe.” In October, Jean-François Palus was appointed chairman of the Administrative Board of Puma SE, replacing Jochen Zeitz.


Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes Web site.

PPR, the Parisian holdings company, said net profit in 2012 increased by 28.2 percent to €1.27 billion ($1.7 billion). Revenue increased 20.8 percent to €9.73 billion ($13 billion).

The company, which has divided its high-end businesses into the categories of luxury and sport and lifestyle, said its luxury goods division reported a 27.6 percent increase in operating profit to €1.61 billion ($2.14 billion). This more than offset a 12.1 percent decline in operating profit in its sports and lifestyle division.

The company’s brands include Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, Stella McCartney, Sergio Rossi, Boucheron, Girard-Perregaux, JeanRichard, Qeelin and Puma. 

Read PPR Shopping for Jewelry and Watch Brands

“PPR's results for 2012 are excellent, thanks to the exceptional performances of all brands in our luxury division,” said François-Henri Pinault, PPR chairman and CEO. “Our strong performance also highlights the good geographic balance of our activities and the consistency of the Group's strategy.”

The company, which operates in more than 120 countries, said revenue generated outside the Eurozone rose 11.6 percent in 2012 based on comparable data and accounted for 78.6 percent of sales for the year, versus 77.9 percent in 2011. Sales contribution from France remained unchanged from 2011, representing 5.5 percent of total revenue on a comparable basis.

In 2012, PPR said it continued its expansion in rapid-growth markets where revenue advanced 13.7 percent on a comparable basis and accounted for 37.6 percent of sales, representing a 100 basis-point increase on 2011 on a comparable basis. Sales in the Asia-Pacific region (excluding Japan) accounted for 25 percent of the total sales of the Group's brands versus 24.5 percent in 2011 on a comparable basis.

The company also is in the process of strengthening its position in the luxury and sports and lifestyle categories while divesting its holdings in other areas. For example, in December 2012, it acquired of a majority stake in Chinese luxury jewelry brand, Qeelin, and last month announced it acquired a majority stake in the luxury designer brand, Christopher Kane. It is also announced in January that it has found a buyer for Redcats children and family divisions.

The company added that it’s in the process of speeding up and expanding the scope of its transformation of Puma “in order to increase efficiencies in terms of organization, processes and systems and to streamline its cost structure, notably in Europe.” In October, Jean-François Palus was appointed chairman of the Administrative Board of Puma SE, replacing Jochen Zeitz.


Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes Web site.

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PPR Acquires Chinese Fine Jewelry Brand Qeelin

On Wednesday in New York, François-Henri Pinault, chairman and CEO of PPR, told me he was in the market for more jewelry and watch brands for the luxury portion of the international holdings company’s portfolio. In particular he was looking at the fast-growing Asian market (which almost always means China). What he didn’t tell me was how close he was to making a deal. Sunday, the French company said it acquired a majority stake in the Chinese fine jewelry brand Qeelin. The transaction is expected to be finalized in January 2013.

Qeelin describes itself as a company that “embraces the mythical essence of China’s cultural heritage with the excellence of French craftsmanship” through contemporary fine jewelry design. It interprets mythical and superstitious Chinese symbols as contemporary jewels. Founded in 2004 by Chinese designer, Dennis Chan, and French entrepreneur, Guillaume Brochard, the brand operates 14 boutiques (seven in Mainland China, four in Hong Kong and three in Europe). Its jewelry can also be found in trendy multi-brand stores, such as Colette in Paris, and Restir in Tokyo.

Pinault, said Qeelin “shows strong growth potential in China and beyond. We thus have great ambitions for the brand and will make it benefit from our expertise and know-how, so that it can speed up its development.”

PPR operates brands in the luxury and “Sport & Lifestyle” markets specializing in apparel and accessories. Distributed in more than 120 countries, PPR generated revenues of €12.2 billion ($15.7 billion) in 2011. Its brands are Gucci, Bottega Veneta, Yves Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Stella McCartney, Sergio Rossi, Boucheron, Girard-Perregaux, JeanRichard, Puma, Volcom, Cobra, Electric, Tretorn and Fnac.

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes Web site.

On Wednesday in New York, François-Henri Pinault, chairman and CEO of PPR, told me he was in the market for more jewelry and watch brands for the luxury portion of the international holdings company’s portfolio. In particular he was looking at the fast-growing Asian market (which almost always means China). What he didn’t tell me was how close he was to making a deal. Sunday, the French company said it acquired a majority stake in the Chinese fine jewelry brand Qeelin. The transaction is expected to be finalized in January 2013.

Qeelin describes itself as a company that “embraces the mythical essence of China’s cultural heritage with the excellence of French craftsmanship” through contemporary fine jewelry design. It interprets mythical and superstitious Chinese symbols as contemporary jewels. Founded in 2004 by Chinese designer, Dennis Chan, and French entrepreneur, Guillaume Brochard, the brand operates 14 boutiques (seven in Mainland China, four in Hong Kong and three in Europe). Its jewelry can also be found in trendy multi-brand stores, such as Colette in Paris, and Restir in Tokyo.

Pinault, said Qeelin “shows strong growth potential in China and beyond. We thus have great ambitions for the brand and will make it benefit from our expertise and know-how, so that it can speed up its development.”

PPR operates brands in the luxury and “Sport & Lifestyle” markets specializing in apparel and accessories. Distributed in more than 120 countries, PPR generated revenues of €12.2 billion ($15.7 billion) in 2011. Its brands are Gucci, Bottega Veneta, Yves Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Stella McCartney, Sergio Rossi, Boucheron, Girard-Perregaux, JeanRichard, Puma, Volcom, Cobra, Electric, Tretorn and Fnac.

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes Web site.

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PPR Shopping for Luxury Jewelry and Watch Brands

François-Henri Pinault. Photo credit: InDigital Media Group

NEW YORK — French holdings company, PPR, is on the lookout for luxury jewelry and watch brands to strengthen its portfolio and meet demands in the booming Asian region.

François-Henri Pinault, chairman and CEO of the company that owns brands in the luxury, sports and lifestyle markets, said PPR identified a weakness in its portfolio in the growing men’s luxury segment. To rectify this it took control of the Sowind Group, which owns the Swiss luxury watch brands, Girard-Perregaux and JeanRichard. Then it acquired the Italian men’s fashion brand, Brioni.

The company already owns the French luxury jewelry brand, Boucheron, which it purchased in 2000. However, Sowind and Boucheron are the only companies it owns in the “hard luxuries” segment of the market. PPR primarily operates internationally in the apparel and accessories sectors in the luxury market and what it identifies as the “Sports & Lifestyle” market. Its luxury brands include Gucci, Bottega Veneta, Alexander McQueen and Balenciaga.

He said PPR will pursue hard luxury brands. “We are looking to any opportunities in jewelry and watches, particularly in Asia,” he said. “It is very important in Asia.”

Pinault made these comments Wednesday following a breakfast presentation at the Consulate General of France. During the event, he gave his views on a range of topics, including the growth of Asian market, the strategy of his diverse holdings company, and e-commerce and digital media.

Pinault said that for 50 years the growth in population and wealth in the world (800 million consumers) was centered in the U.S. and Japan. However, in 2006 the company identified that economic growth has shifted to emerging markets—particularly China, India, Brazil, and more recently, Indonesia—bringing 3 billion consumers to the worldwide market, and that this trend will continue.

“It means that in the next 50 years the growth is amazing,” Pinault said. “We don’t have any idea what it will be. We are always referring to the past but it’s no use. We cannot compare 3 billion people with more and more purchasing power to 800 million in the past… The question is what should we do to take advantage of those opportunities of growth?”

The company already made a decision to enter the luxury market in 1999. However, in 2006, it began to drastically change its portfolio to enter the sports and lifestyle segments. In 2007, it purchased Puma as the centerpiece of this new strategy.

Then, he said, the company needed to identify two areas of growth in this segment that would not compete with the footwear and sportswear company. It chose action sports, which led to the 2011 acquisition in Volcom, and the outdoors market segment.

PPR then took a giant step toward shoring up its e-commerce and digital media strategy by forming a joint-venture with online retail specialist Yoox to administer the e-commerce operations of most of its luxury brands.

Pinault says PPR’s digital media strategy has two parts. First, it needed what acquire the skill set, which resulted in the partnership with Yoox. Now it will try to create an experience that is similar to what customers get from going to one of its branded stores.

“You cannot offer an experience to your customer in the stores that’s completely different from the experience that you’re offering online,” he said. “You go to a Gucci store for the experience rather than mainstream stores. You have to reproduce that online.”

He continued, “The next step is to transform the e-commerce experience, our luxury experience, like it is in the stores. It will show that we can reproduce this conversation online.”

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes Web site.

François-Henri Pinault. Photo credit: InDigital Media Group

NEW YORK — French holdings company, PPR, is on the lookout for luxury jewelry and watch brands to strengthen its portfolio and meet demands in the booming Asian region.

François-Henri Pinault, chairman and CEO of the company that owns brands in the luxury, sports and lifestyle markets, said PPR identified a weakness in its portfolio in the growing men’s luxury segment. To rectify this it took control of the Sowind Group, which owns the Swiss luxury watch brands, Girard-Perregaux and JeanRichard. Then it acquired the Italian men’s fashion brand, Brioni.

The company already owns the French luxury jewelry brand, Boucheron, which it purchased in 2000. However, Sowind and Boucheron are the only companies it owns in the “hard luxuries” segment of the market. PPR primarily operates internationally in the apparel and accessories sectors in the luxury market and what it identifies as the “Sports & Lifestyle” market. Its luxury brands include Gucci, Bottega Veneta, Alexander McQueen and Balenciaga.

He said PPR will pursue hard luxury brands. “We are looking to any opportunities in jewelry and watches, particularly in Asia,” he said. “It is very important in Asia.”

Pinault made these comments Wednesday following a breakfast presentation at the Consulate General of France. During the event, he gave his views on a range of topics, including the growth of Asian market, the strategy of his diverse holdings company, and e-commerce and digital media.

Pinault said that for 50 years the growth in population and wealth in the world (800 million consumers) was centered in the U.S. and Japan. However, in 2006 the company identified that economic growth has shifted to emerging markets—particularly China, India, Brazil, and more recently, Indonesia—bringing 3 billion consumers to the worldwide market, and that this trend will continue.

“It means that in the next 50 years the growth is amazing,” Pinault said. “We don’t have any idea what it will be. We are always referring to the past but it’s no use. We cannot compare 3 billion people with more and more purchasing power to 800 million in the past… The question is what should we do to take advantage of those opportunities of growth?”

The company already made a decision to enter the luxury market in 1999. However, in 2006, it began to drastically change its portfolio to enter the sports and lifestyle segments. In 2007, it purchased Puma as the centerpiece of this new strategy.

Then, he said, the company needed to identify two areas of growth in this segment that would not compete with the footwear and sportswear company. It chose action sports, which led to the 2011 acquisition in Volcom, and the outdoors market segment.

PPR then took a giant step toward shoring up its e-commerce and digital media strategy by forming a joint-venture with online retail specialist Yoox to administer the e-commerce operations of most of its luxury brands.

Pinault says PPR’s digital media strategy has two parts. First, it needed what acquire the skill set, which resulted in the partnership with Yoox. Now it will try to create an experience that is similar to what customers get from going to one of its branded stores.

“You cannot offer an experience to your customer in the stores that’s completely different from the experience that you’re offering online,” he said. “You go to a Gucci store for the experience rather than mainstream stores. You have to reproduce that online.”

He continued, “The next step is to transform the e-commerce experience, our luxury experience, like it is in the stores. It will show that we can reproduce this conversation online.”

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes Web site.

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