PARIS — Kering, which is in the final stages of selling La Redoute, has in the past five years invested more than 400 million euros, or $535 million at current exchange rates, in the struggling French catalogue retailer.
Kering president and chief executive officer Francois-Henri Pinault shared that figure on Tuesday during a meeting with Lille mayor Martine Aubry. He also assured Aubry and other elected officials that Kering is studying offers from three potential buyers with a view to minimizing the impact on employment.
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