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Heir to Gucci empire reveals plan to focus on consumer, luxury brands

11/24/2009

Paris The son of French billionaire Francois Pinault, owner of Italian fashion house Gucci NV, said he is stripping the company of its once-core French retail business in order to focus entirely on global consumer and luxury brands, such as its high-end Yves Saint Laurent and mass-market Puma labels.

According to a report by the Wall Street Journal, PR chief Francois-Henri Pinault, with wife actress Salma Hayek, is embarking upon a new plan to sell the company's European retail divisions, including the popular electronics retailer Fnac and the Conforama discount furniture stores.

Read more: online.wsj.com/article/SB10001424052748704779704574554194085237158.html?mod=dist_smartbrief

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