18 Feb Kering: Puma Not For Sale
Posted at 13:05h in Economic news, Home, Latest News
Francois-Henri Pinault, the CEO of Puma’s parent Kering, ruled out a sale of Puma in an interview with Bloomberg Television.
Bloomberg reported last year that Kering was exploring a sale of Puma, which has struggled in recent years and is launching a turnaround that includes repositioning it backs to its sports roots.
“I’m not selling Puma, full stop,” Pinault told Bloomberg Television. “I’m very confident that we will be able to continue to turn around Puma and to deliver strong growth in the years to come.”
Kering owns an 86 percent stake in Puma and Pinault also said Kering has no plans to increase its stake.