
                                                                      EXHIBIT 42


[Company Logo]                                               [PPR Logo]




                          GUCCI GROUP AND PPR ANNOUNCE
                     DE SOLE AND FORD TO STEP DOWN NEXT YEAR

Amsterdam,  The Netherlands and Paris, France,  November 4, 2003: Gucci Group
N.V. (Euronext Amsterdam: GCCI.AS; NYSE: GUC) and Pinault-Printemps-Redoute
(Euronext  Paris: PRTP.PA) today announced that Domenico De Sole, President
and Chief Executive Officer of Gucci Group and Tom Ford, Creative Director of
Gucci Group and the Gucci and Yves Saint Laurent brands, have informed the
Supervisory Board of Gucci Group that they do not intend to extend their
contracts beyond their currently scheduled expiration date in 2004.

This decision follows several months of negotiations in anticipation of the
expiration of their contracts and Pinault-Printemps-Redoute's  previously
announced tender offer for the outstanding shares of Gucci Group at a price of
$85.52 per share to be completed in April 2004.  Intensive efforts by the
parties did not result in an  agreement  satisfactory  to all concerned and,
therefore, the parties concluded that the completion of the tender offer and the
expiration of the executives' employment agreements was the appropriate time
for a change in senior management.

Domenico De Sole and Tom Ford have confirmed their commitment to remain in
their positions until April 30, 2004 in order to ensure the success of the
coming collections and a smooth transition.  The independent members of the
Supervisory Board have agreed to continue to serve on the Board until that date.
Gucci Group's  Supervisory  Board has  established a Committee  chaired by Serge
Weinberg, Chairman of the Management Board of Pinault-Printemps-Redoute, and
including Adrian Bellamy, Chairman of the Gucci Group Supervisory Board, and
Francois Henri Pinault, Chairman of Artemis, to select successors to Messrs. De
Sole and Ford.

"The members of the Supervisory Board and I owe a huge debt of gratitude to both
Domenico and Tom" said  Adrian  Bellamy.  "Naturally, we regret their decision,
but we understand their reasons.  It takes insight, discipline and exceptional
talent to compete, excel and remain at the top in this business, as is the case
with Domenico and Tom.  Domenico has managed the company with precision always
maintaining the correct balance of devotion to shareholders and colleagues
alike.  Tom's exceptional creative talent and business acumen have earned the
respect of everyone in the industry.  Theirs has been the classic partnership
in fashion: they will be sorely missed. On behalf of the entire Supervisory
Board, we wish them well."

"Gucci has been one of the great loves of my life" said  Domenico  De Sole
"and my years with the Company have  been an incredible  journey.  I would like
to thank Tom, whose creative genius has made it all possible, as well as our
extraordinary colleagues around the world.  Thanks to their skill and
dedication, we have been able to convert the small and troubled company I
joined in 1984 into a world class luxury powerhouse, and in the process to
create significant wealth for all our stakeholders.  We owe a special word of
thanks to Adrian Bellamy and the other members of the Supervisory  Board, whose
wisdom and  steadfast support have been critically important on many occasions.
I will  continue  until my departure to devote my energies to our Company, whose
prospects in our view have never been more promising.  I am confident that our
successors will build on the strong foundations that we will be leaving to
them."

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   [Company Logo]                                             [PPR Logo]

Page: 2

"It is with great sadness that I contemplate my future without Gucci Group"
said Tom Ford.  "For the past 13 years, this company has been my life.  I am
confident that we are leaving  behind one of the strongest teams in the industry
and I will do my best in my remaining time within the company to ensure the
future success of the Group.  I could not be more proud of our work at Gucci or
more proud of the exceptional team of colleagues that have contributed more
than just their hard work; they have given their hearts in our quest for
excellence.  I am grateful to have had the opportunity to have shared the joy of
success with such an outstanding group of individuals.  I would like to thank
Domenico for his extraordinary leadership, constant support and his friendship.
I would also like to thank the members of the Supervisory Board and the entire
staff of Gucci Group for their hard work and dedication."

Serge Weinberg declared "We greatly regret not having been able to reach
agreement with Domenico De Sole and Tom Ford.  They are great talents.  In
tandem, they did a remarkable job to turn around the Gucci brand and make Gucci
Group a worldwide reference in the luxury goods universe.  I wish to express my
warmest appreciation for the work they accomplished.  They have put in place
excellent management and design teams.  It is the strong intention of Pinault-
Printemps-Redoute to continue to develop the Gucci Group and preserve the
entrepreneurial and creative spirit that has made it great.  I will see to it
that the managers and designers within Gucci Group enjoy a large degree of
autonomy, which we consider crucial to ensure the identity and creative
expression of each brand. With its world-class brands, solid businesses,
financial strength and talented individuals, Gucci Group, with PPR's support,
will thus have all the necessary elements to continue to pursue its development
and reinforce PPR's growth, profitability and international presence."


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                                 CONFERENCE CALL

Pinault-Printemps-Redoute and Gucci Group will host a conference call today at
3:30 p.m. (Continental Europe)/2:30 p.m.(UK)/9:30 a.m. (EST).  The call will be
available by dialling + 44 (0)20 7019 9504 in the UK/Europe, or +1 (718)
354-1152 in North America.

To reserve a line and confirm your participation, please register at:
http://invite.taylor-rafferty.com/_ppr/4Nov

A replay of the teleconference will be available shortly after the end of the
conference call for one week at the following numbers: UK/Europe: +44 (0)20
7784 1024, North America: +1(718) 354-1112, Passcode: 711516#.
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Gucci Group N.V. is one of the world's leading multi-brand luxury goods
companies.  Through the Gucci, Yves Saint Laurent, Sergio Rossi, Boucheron,
Roger & Gallet, Bottega  Veneta, Bedat & Co., Alexander McQueen, Stella
McCartney and Balenciaga brands, the Group designs, produces and distributes
high-quality personal luxury goods, including ready-to-wear, handbags,
luggage, small leather goods, shoes, timepieces, jewelry, ties and scarves,
eyewear, perfume, cosmetics and skincare products.  The Group directly operates
stores in major markets throughout the world and wholesales products through
franchise stores, duty-free boutiques and leading department and specialty
stores.  The shares of Gucci Group N.V. are listed on the New York Stock
Exchange and on the Euronext Amsterdam Stock Exchange.

PPR is a leading retail group in Europe through companies such as Printemps,
Redcats, Conforama and Fnac, and a major player in the  luxury goods sector
through its 67.3% stake in Gucci Group.  PPR has a presence in over 65
countries.  In 2002, PPR generated EUR 27.4 billion in sales, EUR 1 827 million
in EBIT and EUR 1 589 million in net income.  The Group totalled over 108 000
employees in 2002. PPR is listed on the Paris stock exchange.

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[Company Logo]                                             [PPR Logo]

Page: 3

Under the safe harbor provisions to the U.S. Private Securities Litigation
Reform Act of 1995, Gucci Group cautions investors that any forward-looking
statements or projections made by or regarding the Gucci Group, including those
made in this press release, are subject to risks and uncertainties that may
cause actual results to differ materially from those projected or implied.
Factors that may affect the Gucci Group's operations are discussed in the
Company's Annual Report on Form 20-F for 2002, as amended, filed with the U.S.
Securities and Exchange Commission. In addition, Gucci Group has no obligation
to update any forward-looking statement.

GUCCI GROUP CONTACTS:

For business media inquiries:                        For fashion media:
Tomaso Galli                                         Lisa Schiek
Director of Corporate Communications                 Director of Communication
Gucci Group N.V.                                     Gucci Group N.V.
+39 02 8800 5555                                     +44 207 898 3000


For investors / analysts inquiries:
Cedric Magnelia / Enza Dominijanni
Directors of Investor Relations
Gucci Group N.V.
+39 055 7592 2456

For additional information please visit www.guccigroup.com


PPR CONTACTS
--------------------------------------------------------------------------------
Press:                                  Thomas Kamm           33 1 44 90 63 46
                                        Juliette Psaume       33 1 44 90 63 02

Analysts/Investors:                     David Newhouse        33 1 44 90 63 23

                                        Alexandre de Brettes  33 1 44 90 61 49

Press site:                             www.pprlive.com

Analysts/investors sites:               www.pprfinance.com















