François-Henri Pinault

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François-Henri Pinault
Portrait de François-Henri Pinault pris aux journée de la terre en 2011 à l'unesco paris.jpg
Pinault in 2011
Born (1962-05-28) 28 May 1962 (age 58)
Rennes, France
EducationHEC Paris
OccupationBusinessman
Years active1985–present
Net worthUS$43.4 billion (January 2021)[1]
TitlePresident and CEO of Kering
President of Groupe Artémis
Spouse(s)
Dorothée Lepère
(m. 1996; div. 2004)

(m. 2009)
Children4
Parents

François-Henri Pinault (French: [pino]; born (1962-05-28)28 May 1962) is a French businessman, the chairman and CEO of Kering since 2005, and president of Groupe Artémis since 2003. Under his leadership, the retail conglomerate PPR was transformed into the luxury fashion group Kering.

Pinault is the son of François Pinault (the founder of PPR). He has been married to Salma Hayek since 2009.

Biography[edit]

Family[edit]

François-Henri Pinault is the son of François Pinault, the founder of Pinault SA, which later became Pinault-Printemps-Redoute, then PPR, and then Kering.[2]

Pinault was married to Dorothée Lepère from 1996 to 2004. They had two children together, a son François (b. 1998) and a daughter Mathilde (b. 2001).[3] He dated supermodel Linda Evangelista from September 2005 to January 2006. They had a son together, Augustin James Evangelista (b. October 2006).[4][5]

In April 2006, he started dating the actress Salma Hayek. Their daughter Valentina was born on 21 September 2007.[6] The couple got married on 14 February 2009 in Paris. In April 2009, they renewed their wedding vows in Venice.[4][7]

Education[edit]

Pinault graduated from HEC School of Management in 1985. During his studies, he co-founded the CRM company Soft Computing with other fellow students and did an internship at Hewlett-Packard in Paris as a database-software developer. After graduating, he completed military service in the French Consulate in Los Angeles, and was in charge of studying fashion and new technology sectors.[8][9]

Early career[edit]

In 1987, Pinault began his career at PPR (then called Pinault Distribution) where he was promoted manager of the buying department in 1988, head manager of France Bois Industries in 1989, and head manager of Pinault Distribution in 1990.[10]

In the 1990s, as Pinault Distribution became PPR, an international player in the retail sector, Pinault became president of CFAO in 1993 and CEO of Fnac in 1997. In May 2003, Pinault became vice-President of PPR and President of Groupe Artémis, PPR's parent company.[11]

President and CEO of Kering[edit]

In March 2005, Pinault became the President and CEO of PPR and engaged its transformation into an international group focused on luxury fashion.[11][12] He offloaded PPR's leading retail assets (Conforama, CFAO, Printemps, Fnac and La Redoute) and merged PPR with the Gucci group, its subsidiary since 1999, bringing Gucci's luxury portfolio (Gucci, Yves Saint-Laurent, Bottega Veneta, Balenciaga, Boucheron, Alexander McQueen and Stella McCartney) under his direct supervision.[13] He expanded the group's portfolio of luxury brands (Girard-Perregaux, Brioni, Qeelin, Pomellato, Christopher Kane, Tomas Maier, Ulysse Nardin),[11] and in June 2013, he changed PPR's name to Kering. The new name is a reference to his Breton roots, "Ker" meaning "home" in the region's dialect, and sounds like "caring".[14][15]

Pinault strongly committed his group to sustainable development. In the early 2010s, he implemented the "environmental profit and loss" (EP&L) accounting method, in line with the UN's Sustainable Development Goals, that was gradually applied to all the brands owned by the group.[16] He launched the Kering Foundation in 2008 to support women's rights,[17] and the Women in Motion program with the Cannes Film Festival in 2015 to raise awareness around women-related issues in the film industry.[18] In 2009, he financed the documentary Home by Yann Arthus-Bertrand, which shows aerial shots of various places on Earth and discusses how humanity is threatening the ecological balance of the planet.[19] In January 2018, Kering was named top sustainable textile, apparel and luxury goods corporation in the Corporate Knights Global 100 index.[20] Pinault was mandated by the French President Emmanuel Macron to set up the Fashion Pact during the G7 summit in August 2019, an initiative signed by 56 fashion firms committing to follow concrete measures to reduce their environmental impact.[21][22]

From 2003 to 2014, PPR's sales had dropped by more than a half, but its profits grew by 40%.[12] From 2005 to 2017, the luxury revenues of the group rose from 3 to 10 billion euros.[23][24] In 2018, as revenues grew 27% to 15.5 billion euros the year before, he announced his plan to outperform Louis Vuitton with Gucci over time.[25]

In 2018, Pinault confirmed Kering's exit of the Sport & Lifestyle sector to focus solely on the Luxury sector.[26]

Groupe Artémis[edit]

Since 2003, Pinault is the President of Groupe Artémis, the parent company of Kering, and owner of the winery Château Latour, the auction house Christie's, and the soccer team Stade Rennais F.C. (Ligue 1).[11] Artémis also invested in the cruise ship operator Compagnie du Ponant in 2015.[27]

Artémis also controls Pinault Collection. In 2016, Pinault introduced the project to renovate the Bourse de Commerce building in Paris and turn it into a Pinault Collection-branded contemporary art museum.[28] To foster Artémis' investments in the technology sector, Pinault launched the $100-million investment fund Red River West in 2017.[29] In 2019, he celebrated the first Coupe de France victory of the Stade Rennais F.C. since its acquisition by the Pinault family in 1998.[30]

Through Artémis, the Pinault family donated $113 million to repair the Notre-Dame de Paris after the 2019 fire.[31][32]

Main roles[edit]

Awards[edit]

See also[edit]

References[edit]

  1. ^ "Forbes profile: Francois Pinault & family". Forbes. Retrieved 31 January 2021.
  2. ^ Dyan Machan, The French Enlightenment, Barron's, 20 April 2013.
  3. ^ Noé, Cristina, Meet Salma Hayek's stepdaughter, influencer Mathilde Pinault, Hola!, 3 March 2020.
  4. ^ a b Amanda Mitchell, François-Henri Pinault, Salma Hayek's Husband, Is Behind Some of Fashion's Biggest Names, The Oprah Magazine, 17 July 2019.
  5. ^ "Salma Hayek's Husband, François-Henri Pinault, Is the Father of Linda Evangelista's Son". People.com. 23 September 2016. Retrieved 23 April 2017.
  6. ^ "Salma Hayek Has a Baby Girl". People. 22 September 2007. Retrieved 28 January 2014.
  7. ^ Vicki Hyman/The Star-Ledger (27 April 2009). "Star-Ledger article on remarriage in Venice". Nj.com. Retrieved 13 July 2011.
  8. ^ "François-Henri Pinault (PPR) : le nouvel empire". Journaldunet.com (in French). 7 December 2000. Retrieved 23 April 2017.
  9. ^ a b Joe Einhorn (5 August 2012). "Meet Le Geek: Francois-Henri Pinault". Techcrunch.com. Retrieved 23 April 2017.
  10. ^ "Biography". Kering.com. Retrieved 23 April 2017.
  11. ^ a b c d Peter Gumbel (2 September 2009). "The new king of luxury". Fortune.com. Retrieved 23 April 2017.
  12. ^ a b François-Henri Pinault (March 2014). "Kering's CEO on Finding the Elusive Formula for Growing Acquired Brands". Hbr.org. Retrieved 30 January 2019.
  13. ^ Rachel Sanderson, Pinault takes Gucci helm in PPR overhaul, Financial Times, 17 February 2011.
  14. ^ "François-Henri Pinault's Luxury Group PPR Changes Name to Kering". Pusuitist.com. Retrieved 23 April 2017.
  15. ^ Molly Fischer (2 April 2015). "Flyby". Newyorker.com. Retrieved 23 April 2017.
  16. ^ Elizabeth Paton (25 January 2017). "François-Henri Pinault, Kering Chief, on Why Green Is the New Black". Nytimes.com. Retrieved 30 January 2019.
  17. ^ a b "Vanity Fair Nominates François-Henri Pinault to Its Hall of Fame". Vanityfair.com. December 2016. Retrieved 23 April 2017.
  18. ^ Tatiana Siegel (5 December 2015). "Cannes Fashion Partner Francois-Henri Pinault on His Festival Strategy and Why the Red Carpet Matters". Hollywoodreporter.com. Retrieved 23 April 2017.
  19. ^ "Information about the movie - Home - Un film de Yann Arthus-Bertrand". Homethemovie.org. Archived from the original on 11 January 2014. Retrieved 25 June 2012.
  20. ^ Lorelei Marfil (23 January 2018). "Kering Named Most Sustainable Global Corporation". Wwd.com. Retrieved 4 July 2018.
  21. ^ Emily Farra (16 May 2019). "At the Copenhagen Fashion Summit, Kering's François-Henri Pinault Shares a Radical New Vision of Sustainability". Vogue.com. Retrieved 19 May 2019.
  22. ^ Guilbault, Laure & Kent, Sarah, Kering Chief to Present Industry Sustainability Pact to G7, Business of Fashion, 23 August 2019.
  23. ^ "Goods activity: Gucci Group". Scribd.com. 2005. Retrieved 4 July 2018.
  24. ^ Maura Brannigan (13 February 2018). "Kering is appropriately freaking out over its most profitable year on the record". Fashonista.com. Retrieved 4 July 2018.
  25. ^ Harriet Agnew (13 February 2016). "Pinault looks ahead at Louis Vuitton as Gucci grows". Ft.com. Retrieved 30 January 2019.
  26. ^ Chris Reiter; Robert Williams (11 January 2018). "Kering Pares Back Its Puma Shares to Focus on Luxury Goods". Bloomberg.com. Retrieved 4 July 2018.
  27. ^ Doug Gollan (4 January 2018). "How The Billionaire Owner Of Gucci And Brioni Wants To Make Expedition Cruises Fashionable". Forbes.com. Retrieved 30 January 2019.
  28. ^ Tina Isaac-Goizé (26 June 2017). "Pinault Presents Future Museum in Paris". Vogue.com. Retrieved 4 July 2018.
  29. ^ Delphine Cuny (27 June 2017). "Un fonds des Pinault va soutenir la French Tech aux Etats-Unis". Latribune.fr (in French). Retrieved 30 January 2019.
  30. ^ (fr) David Hernandez, Rennes : Cette victoire, c'est surtout celle de la famille Pinault, Foot365, 28 April 2019.
  31. ^ "Incendie à Notre-Dame : la famille Pinault débloque 100 millions d'euros". Retrieved 14 April 2018.
  32. ^ O'Kane, Caitlin (16 April 2019). "Several of the world's richest French billionaires donate more than $500 million to rebuild Notre Dame". CBS News. Retrieved 16 April 2019.
  33. ^ "Décret du 14 avril 2006 portant promotion et nomination". Journal officiel de la République française (in French). 16 April 2006. Retrieved 13 April 2017.
  34. ^ "8: François-Henri Pinault". Fortune.com. 2018. Archived from the original on 28 November 2018. Retrieved 30 January 2019.
  35. ^ Hough, Jack, Mark Zuckerberg, Jamie Dimon, and Other Best CEOs in the World, Barron's, 17 June 2019.
  36. ^ (fr) 12 Français parmi les 100 meilleurs P-DG du monde, HBR, 21 October 2019.
  37. ^ Carrera, Martino, François-Henri Pinault Honored by Florence's Municipality, WWD, 7 January 2020.

External links[edit]