NEW YORK — Pinault-Printemps-Redoute SA elevated its stake in Gucci Group NV to 67.34 percent with a series of stock purchases on the Amsterdam and New York stock exchanges during the last 10 days of August and first three weeks of...
NEW YORK — Pinault-Printemps-Redoute SA elevated its stake in Gucci Group NV to 67.34 percent with a series of stock purchases on the Amsterdam and New York stock exchanges during the last 10 days of August and first three weeks of September.
Aug. 21-Sept. 22, PPR acquired 1,016,215 Gucci shares for a total price of $104.3 million, or an average of $102.64 a share. Of that number, 937,730 were bought on the Amsterdam Stock Exchange for $96.5 million, or 84.1 million euros, converted at current exchange, and 78,485 shares were purchased on the New York Stock Exchange for $7.7 million.
According to a Form 13D filed with the Securities and Exchange Commission, the purchases lifted PPR’s total Gucci holdings to 67,180,065 shares.
As of Aug. 20, PPR held 66.65 percent, or 66,163,850 shares, of Gucci.
As reported in July, PPR established a stock purchase plan under which Credit Agricole Indosuez Cheuvreux was authorized to buy up to 4 million shares of Gucci on PPR’s behalf between Aug. 1 and Oct. 19. Those purchases, if affected, would put PPR’s Gucci stake on the cusp of the 70 percent mark it has established as its yearend target.
A similar purchase plan, covering 1 million shares to be purchased in Amsterdam, was in force between June 11 and July 6.
A 70 percent stake in Gucci would put PPR’s Gucci holdings at about 70 million shares, which would mean that PPR would receive more than $1.06 billion when Gucci makes its special 13.5 euros payment to shareholders.
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)
Breaking News: @hedislimane joins @celine as its new artistic, creative and image director. One of fashion’s preeminent image-makers and trendsetters, Slimane is to join the LVMH brand on Feb. 1 and unveil his first fashion proposition for men and women next September during Paris Fashion Week. It marks a major homecoming for Slimane, who cemented his reputation – and influenced men’s tailoring for more than a decade – as the designer of Dior Homme between 2000 and 2007. He went on to reinvent and ignite the house of Yves Saint Laurent, which he rechristened Saint Laurent, between 2012 and 2016 – all the while maintaining a close relationship with the Arnault family, which controls LVMH and Dior. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
“Personally I believe the Eighties have been the richest and more vivacious period for international fashion,” Giorgio Armani said when asked what his favorite decade of fashion is. It was a moment of disruption and experimentation and only thinking back to the first years of that decade is always an emotion for me, for what they have meant to me and my work.” The influence is clear in @giorgioarmani spring 2018 collection, pictured here, which was full of bright colors and unexpected prints. Read more about which decades designers loved most on WWD.com #wwdfashion #wwddecades (📷: @aitorrosasphoto)
For Lady Gaga’s only Italian show on her “Joanne World Tour,” the singer wore a range of @versace_official outfits. The standout piece: this custom-made bodysuit inspired by the brand’s spring 2018 collection. #wwdfashion (RG: @ladygaga)
@_camillaruth_ is expanding on the wellness-craze concept with @westbourne – a new NYC restaurant that’s both a healthy-minded café as well as a business that gives back to the community. Marcus works with the Robin Hood foundation to give back to The Door, a non-profit providing youth development services, and also hires employees through The Door. Read our full interview with Marcus on giving back through food on WWD.com. #wwdeye (📷: @lexieblacklock)