Friday, 4 December 2009

PPR Begins To Lighten Its Retail Load – 4/12/09

Last week, we announced that PPR was set for a major overhaul where they plan to sell many of their retail companies (see the MO Down for 25 November.) This week, the first stage – the initial public offering of its African distribution co. CFAO – has been a huge success. We read it was “oversubscribed by nearly 2.5 times.”

In The Wall Street Journal, it states that PPR “raised at least EUR $806 million.” PPR also said it was very satisfied with the price and called the operation a "big success."

In other share news, Nicola Bulgari, Vice Chairman of luxury jewellery firm Bulgari, sold 4 million shares, or 1.33 percent of the share capital, to investors to finance “personal projects.” To know more, click here to go to WWD Fashion.

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Who's behind the MO DOWN

Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury,