Smithfield Financial has picked up the account to promote French
retail group Pinault-Printemps-Redoute (PPR) among UK audiences.
The move follows PPR’s recent ’white knight’ offer of a strategic
alliance with Italian fashion house Gucci, which is fighting a hostile
takeover bid from French luxury goods giant LVMH.
Smithfield won the work without a pitch and will handle PPR’s financial
media relations. It will work closely with the group’s existing
agencies, New York-based BSMG Worldwide and Dutch agency Eggink
Smithfield directors John Kiely and Michael Oke will lead the account,
reporting to PPR’s recently hired communications head, Jacques
Their first task is to ensure the group’s position is represented in a
Dutch court case, to be heard next week, in which LVMH is contesting
PPR’s recently increased shareholding in Gucci.
Shortly before rejecting LVMH’s hostile bid last week, Gucci issued more
shares to PPR, bringing its stake from 40 to 42 per cent. LVMH has a 20
per cent share in Gucci. PPR has used Financial Dynamics on project work
in the past. FD is now representing LVMH.
- Cosmetics giant L’Oreal has hired Smithfield on a retainer-based
contract to raise its profile in the UK financial media.