PPR Increases Stake in Gucci

July 22, 03 by Staff Reporter

French retailer Pinault Printemps Redoute has bought another one percent in luxury goods maker Gucci Group, increasing its stake to 64.7 percent.

PPR to take complete
control of company by 2004

PPR plans to increase its stake in the company to 70 percent by the end of the year and gain complete ownership by the end of next year.

Between June 11 and July 18 PPR has purchased 1,000,056 Gucci shares in the New York and Amsterdam markets using its own funds, according to a SEC filing.

Gucci, whose shares are traded both in New York and Amsterdam, is the third biggest luxury goods group in the world after LVMH and Richemont.

Diamond Index

PPR Increases Stake in Gucci

Newsletter