2013 March 25
Kering, Née PPR, Scoops Up French Tannery
FirstView View Gallery
(NEW YORK) French luxury conglomerate Kering, previously known as PPR, has acquired a majority stake in Normandy-based tannery, France Croco, for an undisclosed sum. This is the company's first major move since its rebranding last week.
“This acquisition will allow Kering’s brands to further secure a sustainable supply of high quality crocodilian skins,” said a company spokesperson at Kering. “This vertical integration is part of the strategy of Kering to better support its brands to better reach their potential.” Bottega Veneta, Brioni, Gucci, and Alexander McQueen are among the Kering-owned brands that currently utilize croc skins on ready-to-wear, accessories, handbags, and footwear.
France Croco, one of the largest suppliers in the world, was established in 1974 by Jacques Lewkowicz and is now run by his son, Dan Lewkowicz. Following the completion of the deal, Lewkowicz will remain CEO of the operation, which employs about 60 workers. Currently, France Croco is the second tannery under the Kering umbrella. The luxury group also owns Caravel Pelli Pregiate, an Italian tannery specializing in exotic skins.
Chanel is taking quite a trip for its next showing: Karl Lagerfeld's latest Cruise collection will be trotted out in Dubai on May 13. The show will be staged on an island off the city...
Meaghan Murphy, formerly deputy editor at Self, has been named executive editor at Good Housekeeping...John Brodie, formerly executive editor at Hachette Book Group, has been named...
It's always an editrix-studded affair when Ann Taylor presents their latest collection, and their Fall 2014 preview this week was no exception. The likes of Kyle Anderson, Cindy Weber...