More than just the change in scope or activity that this new name reflects, it expresses the Group's new identity and our corporate culture." Pinault adds: "Kering is a name with meaning, a name that expresses both our purpose and our corporate vision. Strengthened by this new identity, we shall continue to serve our brands to liberate their potential for growth." The company, which also owns Bottega Veneta, Saint Laurent, Alexander McQueen and Balenciaga among others, says since 2005 it has transformed its business into a "cohesive, integrated and international" business from a conglomerate distribution business as it overhauled its strategy to focus on luxury and sport and lifestyle brands. The new corporate brand identity will come into effect on 18 June subject to regulatory agreement.