The luxury conglomerate PPR, which owns brands including Girard-Perregaux, JeanRichard, Boucheron and Gucci has changed its name to Kering.
The company helmed by François-Henri Pinault also owns brands including Stella McCartney and Alexander McQueen. It has been renamed to reflect its shedding of mass-market brands such as Printemps and La Redoute.
PPR stood for Pinault-Printemps-Redoute. The name Kering is intended to reflect the word "caring" and is made up of "Ker", which is Breton for "home", and the suffix "ing", to indicate movement.
The rebranding has had a mixed response, and is the fifth name the company has had since its stock exchange listing in 1988.
“Changing our name is the logical and necessary outcome of the group’s transformation,” Pinault said. “More than just a change in scope or activity that this new name reflects, it expresses the group’s new identity and corporate culture.”
The name will be officially adopted on June 18.