In thus siccess post, we are going to share the story of Francois Pinault, a French Billionaire businessman, the majority shareholder and honorary chairman of the real conglomerate Kering, and art collector. Pinault is one of the richest businesses in the world.
As of 2020, Francois Pinault’s net worth is around $7 billion dollars.
Francois Pinault Early Life
Francois Henri Pinault was born on the 28th of May 1962, in Rennes, France. Pinault is the son of Francois Pinault and Louise Gautier. He attended the prestigious international business school ‘HEC School of Management’ located in Paris, France.
At the time of his studies, he also did an internship, working as a database software developer at the ‘Hewlett-Packard’ in Paris.
Francois Pinault Career
In the year 1987, he joined ‘ Pinault Printemps-Redoute, ‘ which was known as ‘Pinault Distribution’ at the time. ‘PPR’ was founded by his father, Francois Pinault in the year 1963.
Meanwhile, he served as ‘France Bois Industries’ as the head manager in the year 1989. While ‘PPR’ evolved as a global player in the retail industry in the year 1990s, Francois Henri was made the president of the multinational industrial products distribution company ‘Compagnie Francaise de I’Afrique Occidentale.’
In the year 1997, he became the CEO of the French retail chain company ‘Fnac.’ He played a major role in divesting PPR’s retail industry, concentrating more on managing luxury brands.
Since May 2003, he has also been serving as the president of the French Holding company ‘Groupe Artemis’ that controls the Pinault family assets.
In the year 2018, Francois Henri Pinault announced his plan to outperform ‘Louis Vuitton’ over a period of time. In that same year, he confirmed Kering’s exit from the sports & lifestyle sector to focus solely on the luxury sector.
As of 2020, Francois Pinault’s net worth is $7 Billion dollars.
Business Lessons from Francois Pinault and Kering
Now that you know all about Francois Pinault’s net worth, and how he achieved success; let’s take a look at some of the best lessons we can learn from him:
1. It All Starts With the CEO
Pinault’s passion for sustainability convinced Daveu to join the company. At Kering, sustainability is seen as an opportunity. Sustainability creates value and stimulates innovation, explained Daveu.
In our vision, she added, sustainability is not only philanthropy but a new way to change the business and identify new business models.
2. We Are the Best, But We Can Do Better
Kering feels too confident enough in its achievement that the company can admit that there is still so much left to do. But you can do something, and you have to do something.
This continuing improvement process becomes obvious when looking at all the company has accomplished so far – from publishing the group Ethical Charter and Code of Conduct outlining its sustainability commitments in the year 1996 to establishing a sustainability department in 2003 to publishing Puma EP&L in 2011 to announcing a five-year sustainability plan in the year 2012.
3. Sustainable Business Requires Green Manpower
Kering comes down in favor of having a robust sustainability department. The company has 50 people in total involved in determining and implementing the Group sustainability policy – 15 in the group sustainability department and 35 in the different brands.
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