The company plans to use the funds to expand internationally.
Fabien Sfez is leaving to become managing director of Pixmania.com.
PPR Group, the French retailing holding company that owns and operates about 20 web retail brands in Europe and the U.S., will soon name a new top e-commerce executive.
PPR, whose Redcats USA is No. 33 in the Internet Retailer Top 500 Guide, announced that Fabien Sfez, director of its development e-business group, is leaving to become managing director of Pixmania.com, a European online retailer of digital photography and consumer electronic goods. Pixmania.com, which sells online in most western European companies, also operates about 17 stores in Belgium, France, Italy and other European countries. Pixmania.com is part of Dixons Stores Group, No. 10 in the Internet Retailer Top 300 Europe, which also operates PCWorld.co.uk and Currys.co.uk.
“We will be announcing who is taking his place in the coming days,” spokesman for PPR says.
PPR hired Sfez in February 2011 to head up a specialized Internet business development unit and expand the company’s e-commerce base, which generates annual sales of more than 2.3 billion euros ($2.92 billion). His role as head of the group was to develop interactivity and identify new e-commerce opportunities for its diverse portfolio of Internet brands, including Fnac.fr, Conforama.fr, Puma.com, Gucci.com, BottegaVeneta.fr, YvesSaintLaurent.com, Balenciaga.com, Boucheron.com, SergioRossi.com, AlexanderMcQueen.com, LaRedoute.fr and StellaMcCartney.com.
Prior to joining PPR, Sfez served as CEO of Fnac France, a French multichannel retailer of consumer electronics and related gear. Sfez served as a member of PPR’s executive committee and reported to CEO François-Henri Pinault.