Who owns the high street: Kering

Founded in 1963 by François Pinault as a wood and building material business, Kering is now one of luxury’s biggest fashion groups. It bought 42% of Gucci Group in 1999, upping its stake to 99.4% five years later in 2004. 

Kering is flying high on the back of the success of Gucci creative director Alessandro Michele’s refresh of the Italian label, whose maximalist glamour helped revenue soar 44.6% last year. 

Saint Laurent also performed strongly, and revenue jumped 25%. Operating profit soared by 56% to €2.9bn (£2.6bn). 

Kering is set to spin off German sportswear label Puma by distributing a majority of its stake to its own shareholders as part of the French conglomerate’s long-held plans to focus on luxury. Kering will retain around a 16% stake in Puma. 

It is also said to be selling 50% of its stake in Stella McCartney back to the eponymous designer, although neither party has confirmed this.