Business NEWS
French retail and luxury group PPR to list CFAO unit on Euronext Paris by year-end
By Caroline Mittermair for CEOWORLD Magazine Updated:October 7, 2009
Get CEOWORLD Magazine digital monthly version. special- Top Capital Cities for a business Traveler, # Interview with Minister of Tourism of Greece. 1 Issues Subscription= $1 Only, 10 Issues Subscription= $5 Only. Grab your copy now!!!!
French retail and luxury group PPR (PRTP.PA) said that it will list its CFAO unit on Euronext Paris by the end of the year.
CEO François-Henri Pinault said: “The proposed flotation of CFAO is in line with the group’s strategy of refocusing its business.”
CFAO is a major importer and distributor of motor vehicles and pharmaceutical products, and provides certain logistical, industrial and technological services throughout Africa and French Overseas Territories.
The company has struggled to justify the logic of holding such a diverse range of businesses, which stretch from mass-market furniture retail chains to high-end fashion brands. Analysts want the company to shed lower margin activities and focus on luxury business.
PPR owns brands like Gucci and Yves Saint Laurent.
CFAO is active in 35 countries, and has more than 10,000 employees. Its consolidated turnover stood at 2.864 billion euros last year, up from 2.534 billion in 2007.
Sphere: Related ContentLike this article! |
|
|
|
|
(No Ratings Yet)
Loading ...17104 views
Comments
Grab a copy of CEOWORLD Magazine for $1 only!!!
