PPR chief executive François-Henri Pinault told the Wall Street Journal that the group plans to divest its retail businesses including Conforama, Fnac and Redcats.

Pinault did not give any details on when the group plans to sell the companies, but said: “The sooner, the better.” He added that about 20 companies are interested in Fnac and Conforama, but did not reveal the names of the potential buyers.

The group plans to focus on its branded goods business.