As reported earlier, come mid-June, PPR will be known as Kering (to be pronounced “caring”). The company has had several names over the years—Pinault SA, Pinault-Printemps, Pinault-Printemps-Redoute—before being shortened to PPR.
One of the reasons for the name change is due to the fact the company changed from a department store focused one (Printemps) to one of the biggest luxurygoods companies in the world (rival with LVMH, for instance). The Printemps department store chain was sold off and Redoute is being sold off next. Only Pinault, the family name of the company’s chairman François-Henri Pinault, remained relevant.
Initial reports that PPR was changing its name to Kering cited an Indonesian word meaning dry or dried. But in its release today PPR said Kering refers to the word for house or home in Breton, a language spoken in Brittany, France, where Pinault’s family comes from. The “ing” expresses the idea of movement, Pinault said.
“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 new Kering logo depicts an illustration of an owl with the tagline “Empowering Imagination.”
PPR, ahem, Kering may soon be adding another brand to its stable. The company is reportedly in talks with Pomellato, the Italian jewelry house.