Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Kering injects millions into La Redoute ahead of sale

Luxury goods group Kering is to invest €300m (£254m) into La Redoute as it looks to offload the French mail order catalogue business.

The group, formerly called PPR, is attempting to find a buyer for the loss-making mail order business, according to reports.

Although Kering has not received any firm offers from purchasers, three potential buyers have requested further information.

Reuters has reported that investment firm HIG Capital is among the potential buyers while Challenges magazine has named private equity firm OpCapita and real estate group Altarea Cogedim are interested.

Kering is looking to offload Le Redoute in a bid to focus on its luxury goods and sportswear. The group began its exit from the retail industry in 2006 when it sold off its department store Printemps.

The parent company of brands including Saint Laurent, Gucci and Puma reported “record” revenues in the first quarter of this year, up 3.1% to €2.4bn (£2bn).

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.