Kering finalizes sale of La Redoute and Relais Colis
Kering announced the closure of the sale of La Redoute and Relais Colis to Nathalie Balla and Eric Courteille. The transaction was completed according to the agreed-upon terms.
Kering announced on Monday, June 2, 2014, that it has finalized the sale of its French e-commerce company La Redoute and its logistics subsidiary Relais Colis. The completion of the sale aligns with the conditions stipulated in the initial sale agreement.
The buyers are Nathalie Balla, current Chairman and CEO of La Redoute, and Eric Courteille, Chief Administrative Officer of Redcats. Kering affirmed that all commitments made during the disposal process have been met by the company.
La Redoute is a well-established French company operating in mail order and e-commerce, specializing in home goods and fashion. Relais Colis provides logistics solutions for the e-commerce sector, particularly within the French market.
This divestment is part of Kering's ongoing strategy to sharpen its focus on its luxury brands. The group, formerly known as PPR, manages a portfolio of prominent luxury houses including Gucci, Saint Laurent, and Bottega Veneta. The sale of these non-core assets is intended to streamline Kering's operations and strengthen its core luxury business.