Kering finalizes sale of Le Redoute and Relais Colis in MBO

Luxury conglomerate Kering has announced the closure of the sale mail

order catalog La Redoute and delivery network Relais Colis, to Nathalia Balla, chairman and CEO of La Redoute and Eric Courteille, chief administrative officer of Redcats.

Last December, François-Henri Pinault, Chairman and CEO at Kering revealed that the company had decided to go ahead and enter exclusive negotiations for a management buyout.

“I am absolutely sure that, with the support of the managers, Nathalie Balla and Eric Courteille are the best people to successfully make the changes necessary to enable La Redoute to keep its place as the Internet leader for clothing and home ware in France,” commented Pinault.