                                                                 EXHIBIT (A)(33)

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                                  PRESS RELEASE
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                                                           PARIS, APRIL 29, 2004


     PPR ANNOUNCES INITIAL RESULTS OF OFFER TO PURCHASE GUCCI PUBLIC SHARES

     O     PPR TO BENEFICIALLY OWN APPROXIMATELY 99.23% OF OUTSTANDING GUCCI
           SHARES FOLLOWING INITIAL PHASE OF OFFER

     O     FOR DUTCH PURPOSES, OFFER DECLARED UNCONDITIONAL

     O     PPR WILL PROVIDE FOR SUBSEQUENT OFFERING PERIOD



Pinault-Printemps-Redoute S.A. (Euronext Paris: PRTP:PA) announced today that it
had completed the initial offering period in connection with its offer to
purchase all of the outstanding common shares (the "Gucci Shares") of Gucci
Group N.V. ("Gucci") that are not already beneficially owned by PPR. In this
connection, for Dutch purposes (more specifically in accordance with article 9t
paragraph 4 of the Dutch Decree on the Supervision of the Securities Trade
1995), it has declared its offer unconditional. As stated in the tender offer
document of 1 April 2004, PPR will pay $ 85.52 in cash per Gucci Share validly
tendered and transferred. Payment will be made by PPR to the paying agents for
the offer on 30 April 2004.

On the expiration of the initial tender period, at 3.00 p.m. Central European
time (9 a.m. New York time) today, 33,267,342 Gucci Shares were tendered into
the offer and not withdrawn. In addition, 1,364,670 Gucci Shares were tendered
into the offer by notice of guaranteed delivery. Together with the Gucci Shares
already owned by PPR, this represents approximately 99.23% of the total number
of Gucci Shares outstanding. All Gucci Shares validly tendered (and delivered)
and not withdrawn before the expiration of the initial offering period have been
accepted and payment will be made promptly. For all Gucci Shares represented by
notices of guaranteed delivery, which were received prior to the expiration of
the initial offering period, payment will be made promptly after the Gucci
Shares are delivered.

PPR also announced today that pursuant to the terms of its offer, it will
provide for a subsequent offering period. Holders of Gucci Shares who did not
yet tender into the offer, are given the opportunity to tender their Gucci
Shares during this subsequent offering period which shall start today and shall
expire at 3 p.m. (Central European time), (9 a.m. New York time) on 20 May 2004
under the conditions set out in the tender offer document.

For holders of Gucci Shares traded on the Amsterdam stock exchange ("Gucci
Ordinary Shares") who have validly tendered their Gucci Ordinary Shares before
the expiration of the tender period and subsequently have transferred their
Gucci Ordinary Shares through their bank or stockbroker to ABN AMRO Bank N.V.
("ABN AMRO") before 12.00 a.m. Amsterdam time on 30 April 2004, payment, in
principle, will be made to their bank or stockbroker on that day. If the Gucci
Ordinary Shares have been validly tendered before the expiration of the

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tender period but without having been transferred before 12.00 a.m. Amsterdam
time on 30 April 2004, the bank or stockbroker of such holders of Gucci Ordinary
Shares will, in principle, receive payment on the first business day after the
date on which the Gucci Ordinary Shares have been transferred through such bank
or stockbroker to ABN AMRO, provided that such transfer has been effected before
12.00 a.m. Central European time.

The U.S. Dealer-Manager for the tender offer is J.P. Morgan Securities Inc., and
the Information Agents for the tender offer are MacKenzie Partners, Inc. and
Innisfree M&A Incorporated. Contact information for these entities is set forth
below.


PINAULT-PRINTEMPS-REDOUTE S.A. 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 GUCCI. THE PPR GROUP HAS A PRESENCE IN OVER 65
COUNTRIES. IN 2003, PPR POSTED REPORTED CONSOLIDATED SALES OF EUR 24.4 BILLION,
INCOME FROM ORDINARY ACTIVITIES BEFORE TAXES OF EUR 983.2 MILLION AND
ATTRIBUTABLE NET INCOME (GROUP SHARE) OF EUR 644.6 MILLION, AND EMPLOYED ABOUT
100,000 PEOPLE. SHARES OF PINAULT-PRINTEMPS-REDOUTE S.A. ARE LISTED ON THE PARIS
STOCK EXCHANGE.

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,
BOTTEGA VENETA, BEDAT & CO., ALEXANDER MCQUEEN, STELLA MCCARTNEY AND BALENCIAGA
BRANDS, GUCCI 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. GUCCI 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. SHARES OF GUCCI GROUP
N.V. ARE LISTED ON THE NEW YORK STOCK EXCHANGE AND ON THE EURONEXT AMSTERDAM
STOCK EXCHANGE.


INVESTORS AND SECURITY HOLDERS ARE STRONGLY ADVISED TO READ THE TENDER OFFER
STATEMENT (AS UPDATED AND AMENDED) AND RECOMMENDATION/SOLICITATION STATEMENT (AS
UPDATED AND AMENDED) REGARDING THE TENDER OFFER BECAUSE THEY CONTAIN IMPORTANT
INFORMATION. THESE STATEMENTS HAVE BEEN FILED BY PPR AND GUCCI GROUP WITH THE
U.S. SECURITIES AND EXCHANGE COMMISSION. INVESTORS AND SECURITY HOLDERS MAY
OBTAIN A FREE COPY OF THESE STATEMENTS AND OTHER FILED DOCUMENTATION AT
WWW.SEC.GOV. THESE STATEMENTS AND OTHER FILED DOCUMENTATION MAY BE OBTAINED FOR
FREE BY DIRECTING SUCH REQUESTS TO PPR'S INVESTOR RELATIONS DEPARTMENT AT +33 1
45 64 63 25, GUCCI GROUP'S INVESTOR RELATIONS DEPARTMENT AT +39 055 75 92 24 56,
OR ABN AMRO VIA EMAIL AT PROSPECTUS@NL.ABNAMRO.COM. THE UPDATED OFFER TO
PURCHASE, AS AMENDED (BUT NOT THE RELATED TRANSMITTAL DOCUMENTS) MAY ALSO BE
DOWNLOADED FROM PPR'S WEBSITE AT WWW.PPRFINANCE.COM.

THE DISTRIBUTION OF THE OFFER DOCUMENTS AND ANY SEPARATE DOCUMENTATION RELATING
TO THE TENDER OFFER AND THE MAKING OF THE TENDER OFFER MAY, IN SOME
JURISDICTIONS, BE RESTRICTED OR PROHIBITED BY APPLICABLE LAW. THIS TENDER OFFER
IS NOT BEING MADE, DIRECTLY OR INDIRECTLY, IN OR INTO, AND MAY NOT BE ACCEPTED
FROM WITHIN, ANY JURISDICTION IN WHICH THE MAKING OF THE TENDER OFFER OR THE
ACCEPTANCE OF THE TENDER OFFER WOULD NOT BE IN COMPLIANCE WITH THE LAWS OF THAT
JURISDICTION. PERSONS WHO COME INTO POSSESSION OF ANY OF THE OFFER DOCUMENTS
SHOULD INFORM THEMSELVES OF AND OBSERVE ALL OF THESE RESTRICTIONS. ANY FAILURE
TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF THE SECURITIES
LAWS OF THAT JURISDICTION. NONE OF PPR, GUCCI OR ANY OF THEIR RESPECTIVE
OFFICERS, DIRECTORS, EMPLOYEES, ADVISORS, AFFILIATES OR AGENTS ASSUME ANY
RESPONSIBILITY FOR ANY VIOLATION BY ANY PERSON OF ANY OF THESE RESTRICTIONS. ANY
HOLDER OF GUCCI SHARES WHO IS IN ANY DOUBT AS TO HIS OR HER POSITION SHOULD
CONSULT AN APPROPRIATE PROFESSIONAL ADVISER WITHOUT DELAY.


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  PPR CONTACTS
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      PRESS:                      Thomas Kamm                  +33 1 45 64 63 46
                                  Catherine Malek              +33 1 45 64 61 20
      ANALYSTS/INVESTORS:         David Newhouse               +33 1 45 64 63 23
                                  Alexandre de Brettes         +33 1 45 64 61 49
      PRESS SITE:                 www.pprlive.com
      ANALYSTS/INVESTORS SITE:    www.pprfinance.com



  U.S. DEALER MANAGER CONTACT INFORMATION
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      J.P. Morgan Securities Inc. 277 Park Avenue New York, NY 10172 Toll free
      number: +1 888 622 6227 Call collect number: +1 212 622 2299



  INFORMATION AGENTS CONTACT INFORMATION
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   MacKenzie Partners, Inc.               Innisfree M&A Incorporated
   105 Madison Avenue                     501 Madison Avenue
   New York, New York  10016              20th Floor
   Call Toll-Free:  +1 800 322 2885       New York, New York  10022
   or                                     Call Toll-Free from the E.U.:
   Call Collect:  +1 212 929 5500         00-800-7710-9971
                                          Call Toll-Free in the U.S. and Canada:
                                          +1 877 825 8772
                                          Call Collect from All Other Countries:
                                          +1 646 822 7428

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