Kering S.A. () is a French multinational holding company specializing in luxury goods. Headquartered in Paris, it owns the brands Gucci, Yves Saint Laurent, Balenciaga, Bottega Veneta, Alexander McQueen, Creed, and Maui Jim, among others.
The timber-trading company Pinault S.A. was founded in 1962 by François Pinault. After the company was quoted on Euronext Paris in 1988, it became the retail conglomerate Pinault-Printemps-Redoute (PPR) in 1994. The luxury group was rebranded Kering in 2013. It has been a constituent of the CAC 40 since 1995. François-Henri Pinault has been President of Kering since 2005, and Luca de Meo CEO since September 2025. In 2025, the group's revenue reached €14.67 billion.
History Timber (1962-1988)
In 1962, François Pinault opened the Établissements Pinault in Brittany (France) specialized in timber trading with a 100,000-franc loan from the bank. His business grew rapidly by acquiring many local timber operations and building its own import bridges, turning Pinault S.A. into a leading timber trader in France in the 1980s. By 1988, the group owned 180 companies and 33 factories for an annual revenue of 10 billion francs.
Retail (1988-2013) In 1988, Pinault S.A. was listed on the Paris Stock Exchange and started a new period of growth in the retail sector through major acquisitions. In 1989, Pinault S.A. purchased 20% of CFAO, a French distribution conglomerate active throughout Africa. In 1990, Pinault S.A. and CFAO merged, and François Pinault became head of the newly formed group which acquired Conforama (French furniture retailer) in 1991, Printemps (French department stores) in 1992, which also owned 54% of La Redoute (French mail-order shopping retailer), and Fnac (French bookstore, multimedia and electronics retailer) in 1994. The group was renamed Pinault-Printemps-Redoute in 1994.
In 1999, Pinault-Printemps-Redoute purchased a controlling 42% stake of the Gucci group for $3 billion, and 100% of Yves Saint Laurent. Those investments marked the cornerstone of the group's shift towards luxury. Through Gucci, Pinault-Printemps-Redoute acquired Boucheron in 2000, Bottega Veneta and Balenciaga in 2001, and signed partnerships with Alexander McQueen and Stella McCartney.
In 2003, François-Henri Pinault, son of the founder François Pinault, became general manager of Artémis, the family holding company that controlled Pinault-Printemps-Redoute. In 2005, he was named president and CEO of Pinault-Printemps-Redoute, a year after the group had reached a 99.4% ownership of Gucci. The group continued acquiring luxury brands: Sowind Group (watch company owner of Girard-Perregaux) and Brioni (Italian tailor) in 2011; Pomellato Group (jewelry company owner of Pomellato and Dodo) and Qeelin (jewelry) in 2012; Christopher Kane (British fashion house) and Richard Ginori (porcelain) in 2013; Ulysse Nardin (watches) in 2014. The group also sold its retail assets: Le Printemps in 2006; Conforama in 2011; CFAO in 2012; Fnac in 2012; La Redoute in 2013. PPR developed a 'sport & lifestyle' portfolio with the acquisition of Puma in 2007, Cobra Golf in 2010, and Volcom in 2011, all of which were sold the following decade.
Luxury (since 2013) In March 2013, PPR changed its name to Kering. Bottega Veneta hit the billion-dollar sales mark in 2012. In 2014, Kering created its own eyewear production arm, Kering Eyewear (1.5 billion euros revenue in 2023), and acquired the eyewear brands Lindberg in 2021 and Maui Jim in 2022. Balenciaga was turned into a disruptive fashion house and Yves Saint Laurent hit the 2-billion dollar sales mark in 2019. From 2015 to 2022, the group's revenue was essentially driven by Gucci's year-on-year high performance, the latter hitting the 10-billion dollars sales mark in 2022. The group divested its interests in Stella McCartney in 2018, Christopher Kane in 2019, and its watch division (Girard-Perregaux and Ulysse Nardin) in 2022.Sudip Kar-Gupta, Mimosa Spencer and Silke Koltrowitz, Luxury goods group Kering to sell watches division, Reuters.com, 24 January 2022 Since 2015, Kering has been hosting the program Women in Motion in partnership with the Cannes Festival to highlight and reward women's contribution to cinema, a program that was extended to the Rencontres d'Arles photography festival in 2019. In 2023, Kering's annual results declined to 19.6 billion (-4%), mainly caused by the deceleration of Gucci's streak. That same year, Kering acquired the fragrance company Creed, 30% of the fashion house Valentino, and Kering Beauté was launched to manage in-house the development of beauty products for the group's brands.
In 2025, Luca de Meo was appointed CEO of Kering, succeeding François-Henri Pinault who remained President of the group. He immediately reorganized the group's top management, and appointed Francesca Bellettini CEO of Gucci. In October 2025, Kering sealed a partnership with L'Oréal regarding the sale of its beauty division, including Creed fragrances, a $4-billion deal. In December 2025, Kering announced the progressive acquisition of the Raselli Franco Group, manufacturer of jewelry pieces. In March 2026, Kering created Kering Jewelry to group its four jewelry houses (Boucheron, Pomelatto, Dodo, Qeelin). De Meo presented its relaunch plan (ReconKering) in April 2026 which included the reorganization of its management poles, the revitalization of its brands, and mainly the reset and relaunch of Gucci. Kering took a minority stake in Chinese fashion house Icicle and launched a partnership with Google for smartglasses. In July 2026, Kering terminated its Gucci Beauty licensing agreement with Coty and signed a 50-year licensing agreement with L'Oréal.
Activities Kering's headquarters are located in the former Hôpital Laennec in the 7th arrondissement of Paris. The parent holding company of Kering is Groupe Artémis. In 2025, Kering made 14.67 billion euros in revenue, and managed 43,731 employees and 1,719 stores.
Kering fully or partially owns the following brands: BrandAcquisition YearCountryGucci1999Yves Saint Laurent1999 Boucheron2000 Bottega Veneta2001Balenciaga2001 Alexander McQueen2001Brioni2011Qeelin2012 Pomellato2012Dodo2012Ginori 1735 (formerly Richard Ginori)2013Lindberg2021Maui Jim2022Valentino (30%)2023Icicle (minority stake)2026 Kering also owns Kering Eyewear (luxury eyewear production arm).
Governance
Chairman: François-Henri Pinault (since 2005) CEO: Luca de Meo (since 2025)
Financial data + Results (in € millions)Year 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2023 20242024 annual results, 11 February 2025. 2025Kering - 2025 results: Sequential improvement, unlocking the next phase of sustainable & profitable growth, Yahoo! Finance, 10 February 2026Sales 17 931 17 761 20 201 16 525 11 008 12 227 9 736 9 748 10 037 11 584 12 385 15 478 13 665.2 15 883.3 13 100.2 19 566 17 194 14 675Net results 680 1 058 924 985 965 986 1 048 50 528.9 696 814 1 786 3 714.9 3 211.5 1 972.2 2 983 1 133 72
See also François Pinault François-Henri Pinault Groupe Artémis
References
External links