PARIS — Signaling its commitment to growing e-commerce, French retail-to-luxury firm PPR said Wednesday it has created a new business unit dedicated to online retail to be headed by Fabien Sfez, formerly general manager of books and electronics retailer Fnac’s French division.
The unit is designed to develop synergies across brands, coordinate e-commerce initiatives and share digital expertise, PPR said.
“E-commerce is a strategic priority for PPR,” stated chairman and chief executive officer François-Henri Pinault. “This appointment reflects my goal to increase our digital presence and accelerate our growth in online sales, which should reach 10 percent of Gucci Group and Puma’s consolidated revenues over the next few years.”
The group declined to specify what percentage online sales represent at present, but noted that e-commerce sales totaled 2 billion euros, or $2.79 billion, in 2009 with more than 80 Web sites worldwide.
This compared with total revenues from continuing operations of 16.52 billion euros, or $23.04 billion, down 4 percent year-on-year. The group’s mail-order division, Redcats, has been particularly active in developing Web sales, which accounted for 47 percent of overall turnover in 2009.
Dollar rates are calculated at average exchange rates for the period in question.
Sfez, whose appointment is effective next month, will report to Pinault and will join PPR’s executive committee. Having begun his career at Accenture, Sfez worked for pay-television operator Canal Plus before joining PPR in 2003. He has been general manager of Fnac France since 2006.
“I was touched by the fact that she lost her father, really before his time, and it was a real shock. She had two young children, she was married and she was expecting that she would have her own life for a good 25 years,” said Claire Foy about playing a young Queen Elizabeth in Netflix’s The Crown. Styled by @mayteallende 📸@jgreenery #emmys2017 #wwdeyeu
“Truth and lies have become a real interesting theme, more than ever, lately,” Emmy nominee Laura Dern told WWD. "It’s a very interesting time to use our voice." Styled by @cristinaehrlich, 📸 @shayanhathaway #wwdeye #emmys2017
“It transcends the genre that is you think of a sci-fi show — you don’t expect it to be so profound or emotionally riveting,” Evan Rachel Wood told WWD of her Emmy nominated role in Westworld. styled by @samanthamcmillen_stylist 📸 @emmanmontalvan #emmys2017 #wwdeye