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


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.

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