French PPR to make luxury leather goods in Serbia
PPR SA, 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 ($7.7 million) in a tannery in Ruma, northwest of Belgrade, receiving €8,000 for each of 120 employees it plans to hire, Serbia Investment and Export Promotion Agency (SIEPA), said in a statement. Kering bought bankrupt Ruma Fabrika Koze AD earlier this year and will reopen it as Luxury Tannery DOO, SIEPA said.
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