PPR Boss Pinault Just Bought A $32 Million 2-Bedroom
2:20 pm, November 13th | by Hillary Reinsberg
Pinault, the fashion magnate whose PPR owns Gucci, Yves Saint Laurent and many other luxury retail brands, has paid £20 million ($31.8 million) for a home in London’s swanky Chelsea neighborhood. A home that has only two bedrooms.
What was the 75-year-old billionaire thinking? Well, it is a nice place. It was designed, according to The Telegraph, ”in 1868 by Philip Webb, the ‘Father of Arts and Crafts architecture.’” It also has triple-height ceilings.
That being said, Pinault is still planning a renovation to reinstate some of the home’s original features and to remodel the bedrooms, kitchen and bathrooms. Why not, right?
We’re sure Pinault’s thrilled to have bought the home, but the guy who sold it might be even happier. He bought the home for around $127,000 thirty years ago. Consider that profit.