PPR Launches Subsidiary for Interactive Services

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.

The group’s venture capital fund is a venture with the CIC dubbed “Club de
dévelopment PPR”.

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

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.

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