PPR to Make Luxury Leather Goods in Serbia With State Support

PPR SA (PP), the Paris-based luxury and sporting goods group, will start making branded leather goods in Serbia, lured by state incentives for new jobs.

PPR, which is being renamed Kering, will invest 6 million euros ($7.7 million) in a tannery in Ruma, northwest of Belgrade, receiving 8,000 euros for each of 120 employees it plans to hire, Serbia Investment and Export Promotion Agency, or SIEPA, said in an e-mailed statement.

Kering bought bankrupt Ruma Fabrika Koze AD earlier this year and will reopen it as Luxury Tannery DOO, SIEPA said.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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