French luxury-goods group PPR is set to acquire Italian jeweler Pomellato, according to a person familiar with the matter, a sign that small independent brands are finding it increasingly difficult to compete against the industry's heavyweights.
PPR, home to labels such as Gucci and Puma, will change its name to Kering in June, reflecting its transformation from a French conglomerate to an internationally focused sportswear and luxury-goods group.
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