Kering chief says Puma is not for sale - sportstextiles: Lea SportsTextiles

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Kering chief says Puma is not for sale

24/06/2016
The chief executive of luxury group Kering, François-Henri Pinault, has said that there are no plans to sell sportswear brand Puma in the short-term. He made the comments to the Financial Times amid rumours that a sale was imminent.

Mr Pinault said that the Puma brand “is on track” following a turnaround driven by the appointment of a new management team in 2013. He added that he was pleased that Kering’s patience had paid off.

Kering reported revenues of €2.7 billion for the first quarter of 2016, an increase of 4% on the same period last year. Sales from Puma helped drive this growth, rising 8.1% from €825 million to €855.9 million. Kering acquired a controlling stake in Puma in April 2007.

Related stories:

Kering considers selling Puma brand 03/11/2017
Puma boosted by growth in women’s segment 10/02/2017
Head of Puma North America to retire 02/11/2016
“Innovative products” boost Puma growth 27/10/2016
Puma adds partners to supplier incentive scheme 12/09/2016
Puma footwear chief joins Asics America 15/07/2016
Puma’s ongoing growth contributes to Kering’s 7% rise in Q1 25/04/2016
Puma sales rise in first quarter 22/04/2016
Kering hails Puma growth and highlights footwear performance 26/10/2015
‘Good start’ for Puma 23/04/2015
Kering reports “pivotal” year for Puma 17/02/2015

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