Culture for sale

Not so long after selling off Printemps (see : Rinascente in Spring) PPR is thinking of putting another one of its brands on the market. The Fnac. Goldman Sachs and UBS will be handling this transaction. Figures mentioned : 2 B€

The Fnac traditionally perveys the image of retailing culture (CDs DVDs books) - 40% of their turnover lies in this, the other 60% in techproducts.
Film and music buying habits have changed. They are now called downloads. Although the Fnac is France's leader on the music CD market with over 28% share, the future is not bright for this retail activity.

Other PPR brands and services already sold or on the market: Finaref, Rexel, and various participations in non stategic services.

This move confirms once again the PPR strategy :Scimming down on extras and focusing on high yielding, dynamic activities ie: luxury.

PPR entrerd the luxury brand arena in 1999/2000 with the acquisition of fashion houses of Gucci and Yves Saint Laurent, now YSL.
Today : Balenciaga, Alexander McQueen, Stella McCartney, Bottega Veneta, Sergio Rossi, Boucheron, Bédat & Co, Saint Laurent Parfums and Roger et Gallet are all part of the PPR Gucci Group stable.
Tomorrow : New acquisitions are planned - names, anyone?