Kering, the luxury conglomerate formerly named PPR, announced on Friday that it had taken a minority stake in Altuzarra, the label started in 2008 by the French-American designer Joseph Altuzarra.

Kering has reached a deal with RA.MO S.p.A for the acquisition of a majority stake in Italian Jewellery group Pomellato.

PPR will change its name to Kering to cap the company’s transformation into a luxury and sporting goods specialist.

Young Scottish design talent Christopher Kane has seen French luxury holding PPR invest in his label. A new store and second line are expected for 2014.

PPR, the owner of Gucci, Yves Saint Laurent and Balenciaga, has bought Chinese jeweller Qeelin for an unnamed sum.

In an interview with WWD, PPR boss François-Henri Pinault has hinted that Balenciaga may make a return to the haute couture calendar.