PPR eyes Italian acquisitions

PPR is on the prowl for companies to take over in Italy . In an interview with the Italian newspaper Il Sole 24 Ore , chief executive Francois-Henri Pinault said that the company was interested in acquisitions in Italy . As owner of the Gucci Group, the luxury goods giant knows the Italian market well and Pinault said he saw further potential for synergy there. Fashion companies Valentino and Aeffe are believed to be possible targets. Valentino's parent, Valentino Fashion Group, recently said it was open to partnerships and acquisitions. The other contender, apparel maker Aeffe, is currently involved in the process of buying back a 20 percent stake from the financial services group Sanpaolo-Imi. Jeweller Bulgari is also said to be open to a particularly attractive deal, and luxury furniture company Poltrona Frau could also be a possible target.

PPR has often expressed its intention of selling off its French department store chain Printemps to focus on its core luxury business, which is currently worth €2.5 billion.