COMPANIES PPR, the French retail conglomerate headed by billionaire François-Henri Pinault, plans to dispose of retail businesses that generate 70 per cent of group sales to focus on clothing and accessories brands within its luxury Gucci Group and Puma, the sports wear company.
The first move in this strategic overhaul is the planned flotation of CFAO, PPR’s African distribution business, which will net the group about €900m ($1.3bn) when it makes its stock market debut next week.
