PPR Launches Subsidiary for Interactive Services
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French business group Pinault-Printemps-Redoute (PPR) has created subsidiary PPR Interactive to propel the company into the e-commerce market.
The new company has two missions in the e-business area: to develop cooperation between the different members of the group and to create new online offerings.
PPR Interactive's entire strategy will be placed online at its Noel on Line e-commerce site by the middle of next month, according to the company. The e-tail site will serve as an umbella site for 16 major companies both within the PPR Group and from its partner network.
PPR's strategy relies on making its venture capital section, its commercial arm and its financial partners work with other online companies. Moreover, the new structure will manage two other branches of the group: Kertel, a pre-paid telephone card specialist and a partner of Club Internet, and Mobil Planet, an American computer shopping site acquired in May.
PPR Interactive intends to become a "Web Lab" or expertise resource for its parent company, and the merchant incubator plans to fuel 10 start-ups each year.
The company also plans to launch ISP services in the future.
PPR, which owns more than 30 merchant sites in France and around Europe including FNAC, Redoute and Printemps, expects a turnover of more than 100 million francs for this year.