One of the richest people in France, the owner of the Gucci brand, Christie's auction house, Chateau-Latour vineyards, Marigny Theater in Paris, François Pinault combined business that was incompatible with his empire. Everything that his hands touched turned into gold.
In the field of interests of Francois Pinault were artistic paintings, and sportswear, and sawmills. He became known as a collector.
The hard way to dream
Francois was born in French Brittany in 1936, August 21. My father worked as a forester. He sent his son to study in high school in Paris. At sixteen, Pino Jr. left school and went to travel. He decided to do only what he liked.
Education, he did not include such concepts. Francois hates diplomas and castes to this day. The worker’s career did not attract him either. For several years, the guy had to interrupt casual earnings. But I realized that you can rely on yourself alone.
Determined to succeed, Pino went to Algeria. For three years he stayed there and returned with capital. Now he was sure what he would do. Soon the marriage took place. The chosen one was the daughter of wood supplier Louise Gauthier.
Francois opened his own business in his homeland. Three children appeared in the family. At nearly thirty, the entrepreneur founded the Pinault group and began the timber trade. Gradually he made business acquaintances. So, a novice businessman met Jacques Chirac, then a promising politician.
Politics attracted incredible business prudence multiplied by an equally incredible flair. Shortly before the stock market crash in 1973, Pino sold a thriving company. He bought it back at a much lower price. Earnings from the procedure exceeded income from the previous five years.
Business development
In 1988, Francois was already a respectable businessman of average wealth. He had already managed to divorce and marry again, to become the father of four children, when he decided that it was time to turn into a billionaire. Very soon, the businessman turned into a successful broker of the Paris Stock Exchange. He bought up some enterprises, sold others.
All transactions were successful. By the end of 1989, CFAO chairman Paul Paoli invited Pino to become his partner. Starting with one fifth of the share, in a few months the businessman joined Acquisition in his group. The new organization was engaged in the supply of electrical equipment to Africa.
The basis of the new empire was the proceeds from the mediation of the transaction on the purchase of Executive Life insurance company. All billions instantly went to business: they acquired the first Conforama retail chain. A year later, François became the owner of Printemps, one of the largest department stores in the French capital. In 1994, La Redoute and the largest Fnac bookstore chain were purchased.
The new group was now called PPR, Pinault-Printemps-Redoute. She became the country's largest retail association. Pino acquired a hosiery factory, a pharmacological company, an association of mail order trade, and office equipment. Employees jokingly told about him that the boss sells everything from paper clips to tractors.
