Incentives lure Kering to open tannery in Serbia

17 May 2013

PPR, which is being renamed Kering, will invest €6 million ($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 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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