One of the leaders in the production of luxury goods group PPR, decided to change its name. The portfolio of the French holding such prestigious brands as Gucci, Saint Laurent, Balenciaga, Alexander McQueen and Stella McCartney. From June 18 three-letter acronym, derived from the Pinault-Printemps-Redoute, replaced by a more sonorous name Kering. This word comes from the Breton language and it means "house" or "lobby". The motto of the company will be updated phrase «Empowering Imagination» (literally translated as "exciting the imagination"). PPR The company was founded in 1963 by entrepreneur Francois Pinault. Now the family business continued by his son François-Henri Pinault. The company established itself as a powerful player in the luxury market after forming an alliance with the Gucci Group in 1999.