KERING is a large Paris-based group with a focus on fashion and retail. Formerly known as PPR, the publicly traded company changed its name in 2013. Last year, total revenues were €9.75 billion ($12.6 billion). Of that total, €6.47 billion ($8.37 billion) came from the luxury division, more than half of which was from Gucci.
Kering has been building its watch business steadily over the last few years. In 2012 it purchased the Sowind Group, consisting of Girard-Perregaux and Jean- Richard. Sowind makes Swiss mechanical movements, which appeared in Gucci watches for the first time in 2013. Another significant acquisition came when Kering bought the Swiss watch brand Ulysse Nardin. At the end of 2013, Kering had 35,000 employees.
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