Paris-based luxury group Kering, the owner of brands including Gucci and Bottega Veneta, has completed the sale of a 5.9% stake in Germany-headquartered sportswear company Puma, following on from a previous sale of the same amount in October.  

The total value of this month’s transaction was approximately $983 million (€805 million), the group said in a statement. 

Proceeds will be used for general corporate purposes, as well as for the further strengthening of Kering’s financial structure (and, reportedly, its luxury positioning). 

Kering, controlled by France’s Pinault family, now owns around 4% of Puma.

Image: Puma via Instagram.

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