French retail group PPR, owned by billion François-Henri Pinault is looking for buyers of less luxury brands in order to repay debts and gain capital to invest in mid-market clothing brands, like Abercrombie and Fitch. Brands currently under the PPR umbrella include, Yves Saint Laurent, Gucci, Alexander McQueen and Sergio Rossi and Stella McCartney.
PPR is also invested on the other side of the market owning French, low-price department stores like La Redoute and FNAC. Pinault is looking to unload these low-market stores and pick up mid-market brands like Levi Strauss, Ralph Lauren and the ode to Americana, Abercrombie & Fitch. For the moment though, there is no timeline for these procedures and PPR representatives have said they are interested in reinforcing their own companies and stabilizing them through the recession before selling.
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