PPR has transformed itself from a conglomerate to the world's third-largest luxury group (behind LVMH and Richemont). PPR's stable of global luxury brands includes a 99% stake in Italian luxury goods company Gucci Group, and luxury brands Alexander McQueen, Balenciaga, Boucheron, Bottega Veneta, Stella McCartney, and Yves Saint Laurent, among others. The group's other activities include the multichannel merchant Redcats, Fnac music and book stores, the Conforama chain of household furniture and appliance stores, and the German athletic shoemaker PUMA. More than half of PPR's sales are generated outside of its home country. PPR is run by Francois-Henri Pinault, the son of its founder Francois Pinault.