PPR acquires Italian tailor Brioni

Luxury and retail group, PPR has announced that it has acquired Italian fashion brand, Brioni for an undisclosed price in a move to strengthen its position in the high-end menswear market. PPR has confirmed that they have reached an

agreement with Brioni’s shareholders to buy 100% of the share capital. The transaction is subject to the approval of the competition authorities and should be finalised at the beginning of 2012.

The group has said that it plans to boost growth at Brioni through expansion into emerging markets and a wider product range. The takeover of Brioni completes PPR’s portfolio of luxury brands in men’s fashion, which is currently enjoying strong growth, driven mostly by Asia.

François-Henri Pinault, Chairman and CEO of PPR, declared: “Brioni boasts top quality craftsmanship and is synonymous with Italian masculine elegance. It is the reference in ready-to-wear and bespoke menswear and I am delighted that it is joining our magnificent portfolio of luxury brands. We have great ambitions for this fashion house.  We will give it access to our expertise and know-how, so that it can write a new page in its history while continuing to preserve its identity.”

Francesco Pesci, CEO of Brioni, added: “Joining PPR group is a great opportunity for Brioni as we will benefit from the group’s power. It is the ideal partner to lead our company towards a new stage in its development while enabling it to preserve its unique know-how and remain faithful to its values of timeless elegance and refinement.”

Brioni is one of the world’s most reputable men’s fashion houses and is famous for designing James Bond’s suits. Last year the brand’s revenue reached 170 million euro, and it has 74 boutiques worldwide, 32 of which are directly owned stores. The brand joins PPR’s other luxury labels including Gucci, Bottega Veneta, Yves Saint Laurent, Alexander McQueen, Balenciaga, and Stella McCartney.

Image: Brioni