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Can a mass market retail group transform into a luxury group?<\/p>\n
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Coming from sports retailing, through the Sports Direct brand, the British group Frasers<\/strong> believes so and is accelerating its diversification into the ultra-high-end segment.<\/strong><\/p>\n <\/p>\n Having already acquired the department store House of Fraser<\/strong> and taken a stake in Hugo Boss<\/strong>, it has now purchased some luxury assets of THG<\/strong> and is eyeing the UK operations of Ted Baker.<\/strong><\/p>\n <\/p>\n To dare such an elevation, has its founder Mike Ashley taken inspiration from the example of French billionaires Pinault father and son?<\/strong> By changing names, for example, transforming a “commoner” group into an “aristocrat”?<\/p>\n <\/p>\n <\/p>\n Not everyone remembers, but before transforming into the luxury group we know today, Kering, the ex-PPR (Pinault-Printemps-La Redoute) founded by Fran\u00e7ois Pinault,<\/strong> first built its foundation in public retail<\/strong> (through the acquisitions of Conforama, La Redoute, Le Printemps, and Fnac).<\/p>\n <\/p>\n In 1991, Fran\u00e7ois Pinault bought the furniture chain Conforama from… Bernard Arnault<\/strong>, CEO of LVMH, who himself wanted to focus solely on luxury!<\/p>\n <\/p>\n In 1999, PPR (Pinault-Printemps-La Redoute) began its strategic shift towards luxury<\/strong> by acquiring 40% of Gucci<\/strong> and 100% of Sanofi Beaut\u00e9, then owner of Yves Saint Laurent<\/strong>, right under the nose of LVMH, which was also in the running. Its CEO, Bernard Arnault, saw another contender for a luxury empire with a very bad eye.<\/p>\n <\/p>\n A quarter of a century later, it’s clear that PPR, renamed Kering and now led by Fran\u00e7ois-Henri Pinault<\/strong>, Fran\u00e7ois’s son, has successfully completed its total transformation into a full-fledged luxury giant<\/strong>. Even though it is currently experiencing a slowdown as its flagship house Gucci, the one that started it all and was long its driving force, faces challenges\u2026<\/p>\n <\/p>\nKering: Its French Model?<\/h2>\n
In the Beginning: Sports Direct…<\/h2>\n
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