François-Henri Pinault was born May 28, 1962 and he is a French businessman, Chairman and CEO of Kering since 2005 and Chairman of Groupe Artémis since 2003.
Under his leadership, the retail conglomerate PPR became transformed into the luxury fashion group Kering.
He is the son of François Pinault who was the founder of PPR.
François Pinault Biography
François-Henri Pinault is the son of François Pinault , the founder of Pinault SA, which later became Pinault-Printemps-Redoute, then PPR, then Kering .
Pinault was married to Dorothée Lepère from 1996 to 2004. They had two children together, a son François who was born 1998) and a daughter Mathilde who was born 2001.
He dated supermodel Linda Evangelista from September 2005 to January 2006. They had a son together, Augustin James Evangelistawho was born October 2006.
In April 2006, he began dating actress Salma Hayek .
Their daughter Valentina was born on September 21, 2007. The couple married on February 14, 2009 in Paris. In April 2009 they renewed their wedding vows in Venice.
Pinault graduated from HEC School of Management in 1985. During his studies, he co-founded the CRM Soft Computing company with fellow students and interned at Hewlett-Packard in Paris as a database software developer.
After graduating, he completed his military service at the French Consulate in Los Angeles, and was in charge of studying the fashion and new technology sectors.
François Pinault Age
François-Henri Pinault is 60 years old.
François Pinault Net Worth
The Richest estimates his personal fortune at $25.5 billion (2019). Forbes estimates the Pinault family fortune at €35.3 billion (2021).
In 2011, François-Henri Pinault bought a two-bedroom house in London , built in 1868 by Philip Webb for George Price Boyce , for £20 million (over €23 million).
He moved to London in September 2014, but stated that he was still a French tax resident. According to Challenges , he lives in London to facilitate his wife Salma Hayek ‘s English-speaking career . In 2015, he said that he still paid his taxes in France.
In 2017, François-Henri Pinault received compensation of €3.2 million.
In 2018, his compensation was set at 5.8 million euros at the general meeting of the Kering group and then reached 21.8 million euros after the application of multi-year variable remuneration based on results (incentive plan for long term).
In 2019 he received a salary of 16.6 million euros. Of’april 2020, you waive 25% of your fixed monthly salary, as well as all of your variable compensation.
According to Mediapart , the Kering group would have saved around €2.5 billion in taxes since 2002. At the end of 2017, the Italian tax authorities opened an investigation against Gucci .
Following negotiations with the Italian courts, Kering receives a tax adjustment of €1.25 billion. According to Mediapart , François-Henri Pinault would also have validated a tax evasion package for the benefit of the CEO of Gucci (Marco Bizzarri).
François Pinault Career
In 1987, Pinault began his career at PPR ,then called Pinault Distribution, where he was promoted to purchasing department manager in 1988, general manager of France Bois Industries in 1989, and general manager of Pinault Distribution in 1990.
In the 1990s, when Pinault Distribution became PPR, an international player in the retail sector, Pinault became Chairman of CFAO in 1993 and CEO of Fnac in 1997. In May 2003, Pinault became Vice Chairman of PPR and president of Groupe Artémis , PPR’s parent company.
Finally François manages to be rented the Paris Stock Exchange , which is located ten blocks from the Louvre Museum. It is a circular building from the 18th century that was used for the cereal trade, it will have it for 50 years, paying a rent to the city of Paris of 12 million dollars per year .
The reforms were carried out by his favorite architect, the Japanese Tadao Ando (79), who made a giant concrete cylinder in the center of the space that has 7 thousand square meters, 10 exhibition rooms, a cafe, a naturist restaurant and even a room of meditation.
The cost was about $130 million, the same amount that the family donated for the reconstruction of the Church of Notre Dame .
François Pinault The President And CEO Of Kering
In March 2005, Pinault became President and CEO of PPR and began its transformation into an international group focused on luxury fashion.
He divested PPR’s main 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.
He expanded the group’s portfolio of luxury brands (Girard-Perregaux, Brioni, Qeelin, Pomellato, Christopher Kane, Tomas Maier, Ulysse Nardin), and in June 2013, changed the name of PPR to Kering. The new name is a reference to his Breton roots, “Ker” meaning “home” in the region’s dialect, and sounds like “affectionate”.
Pinault strongly committed his group to sustainable development. In the early 2010s, it implemented the “environmental gains and losses” (EP&L) method of accounting, in line with the UN Sustainable Development Goals, which was gradually applied to all brands owned by the group.
He launched the Kering Foundation in 2008 to support women’s rights, and the Women in Motion program with the Cannes Film Festival in 2015 to raise awareness of issues related to women in the film industry.
In 2009, he financed the documentary Homeby Yann Arthus-Bertrand., which shows aerial shots of various places on Earth and analyzes how humanity is threatening the ecological balance of the planet.
In January 2018, Kering was named a leading company in sustainable textiles, apparel and luxury goods in the Corporate Knights Global 100 Index.
Pinault was mandated by French President Emmanuel Macron to establish the Fashion Pact during the G7 summit in August 2019, an initiative signed by 56 fashion firms that pledged to follow concrete measures to reduce their environmental impact.
From 2003 to 2014, PPR’s sales fell by more than half, but its profits grew by 40%. From 2005 to 2017, the luxury group’s revenue increased from €3 to €10 billion. In 2018, when revenue grew 27% to €15.5 billion the previous year, he announced his plan to overtake Louis Vuitton with Gucci over time.
In 2018, Pinault confirmed Kering’s departure from the Sport & Lifestyle sector to focus solely on the luxury sector.
François Pinault And Artemis Group
In May 2003, François-Henri Pinault is appointed president of Artémis , a family company that, in particular, owns Kering, Château Latour , Christie’s , Stade Rennes FC and the Pinault family’s art projects ( Pinault Collection ).
In 2016, he joined his father in transforming the Paris Stock Exchange into a contemporary art museum by chairing the board of directors of the future cultural building. However, he admits to being more shy than his father about the volumes of art he personally collects. In June 2017, launched by Red River West, an investment fund aimed at the new technology sector.
In April 27, 2019, François-Henri Pinault celebrates Stade Rennes FC ‘s victory in the Coupe de France against Paris Saint-Germain , the club’s first victory in this competition since its acquisition by the Pinault family in 1998, and the club’s first season under his direct presidency.
In february 2020, announces the departure of Olivier Létang , president of the club then responsible for revitalizing the latter. He is replaced by Jacques Delanoë who is responsible for the interim and then by Nicolas Holveck in march 2020. In October 2020, Stade Rennes FC will play its first Champions League match in its history.
In April 15, 2019, on the day of the Notre-Dame de Paris fire , the Pinault family announced a donation of 100 million euros, through their investment company Artemis , to participate in the effort to rebuild the cathedral.
Jean-Jacques Aillagon suggests giving donors a 90% tax cut instead of 60%, but the Pinault family gives up and makes the first payment of €10 million two months later.
In 2021, he acquired a stake in the online outlet Brut and then, with Matthieu Pigasse , participated in the launch of the €300 million SPAC I2PO aimed at the entertainment sector in Europe.
François Pinault Main Roles
- President and CEO of Kering
- Manager of Financière Pinault
- President of Artemis Group
- Co-founder and board member of Soft Computing
- Propietario del Stade Rennais, French fútbol club in Ligue 1
- Member of the board of directors of Château Latour
- Member of the board of directors of Christie’s
François Pinault Prizes
- 2006: Knight of the Legion of Honor
- 2016: Vanity Fair Hall of Fame
- 2018: 8 Entrepreneur of the Year according to Fortune
- 2019: Among the “World’s 30 Best CEOs” according to Barron’s
- 2019 :3rd in “World’s 100 Best CEOs” by Harvard Business Review
- 2020: Fiorino d’Oro, the highest award of the city of Florence
François Pinault Children
François-Henri Pinault is the father of four children: from a first marriage to Dorothée Lepère, François was born in 1997 and Mathilde in 2001.
Augustin James, born in 2006 from a relationship with Linda Evangelista, publicly revealed in 2011 when Linda claims alimony.
Valentina Paloma was born in 2007 from her relationship with the Mexican actress and producer Salma Hayek , whom he married, the February 14, 2009 to the mayor’s office of the 6th arrondissement of Paris , in Paris .
In August 2018 they renew their wedding vows.