French luxury fashion group PPR, the business behind brands including Gucci, Stella McCartney and Alexander McQueen is to change its name to Kering.
The group said it is changing its name to reflect a change in its identity although the name change will be subject to the approval at an AGM meeting on June 18.
PPR said since 2005 it has undergone a “radical transformation” and the group will soon have left the distribution sector and instead be focused on the brands it owns in the luxury and sports lifestyle sector.
Chairman and chief executive François-Henri Pinault said: “Changing our identity is the logical and necessary outcome of the group’s transformation. More than just the change in scope or activity that this new name reflects, it expresses the group’s new identity and our corporate culture.”
PPR said the name Kering can be pronounced as ‘caring’ in English and the group will now have a new emblem of an owl.
Pinault added: “Kering is a name with meaning, a name that expresses both our purpose and our corporate vision. Strengthened by this new identity, we shall continue to serve our brands to liberate their potential for growth,”