Kering considers selling Puma brand
03/11/2017
Kering acquired Puma in 2007 as part of a strategy to diversify its business. The majority of its portfolio, which include Gucci, Bottega Veneta and Yves Saint Laurent, is dedicated to the luxury industry.
In June, Kering chief executive, François-Henri Pinault, said there were no plans to sell Puma, explaining that the brand “is on track”.
This was echoed by chief financial officer, Jean-Marc Duplaix on a conference call with investors in October, although he described Puma as a “noncore asset” and said Kering “is focusing more on luxury”.
Kering has not commented on the report.
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