sitemaps.org/schemas/sitemap/0.9/sitemap.xsd BrandArena: Kering explored options to sell sportswear maker Puma

Thursday, 18 December 2014

Kering explored options to sell sportswear maker Puma

As efforts to revive the brand drag into a fifth, fashion holding company Kering, the owner of Puma, has explored a possible sale of the sportswear company, according to the Bloomberg news agency.

Kering owns about 86 percent of Puma, having acquired control of the sporting-goods maker in 2007.

The report, citing people familiar with the matter, said that Puma contacted potential buyers earlier this year to gauge interest. Sovereign wealth funds from the Middle East and Asian investors were among those approached.

Puma, which has a market valuation of about €2.5bn ($3.1bn), became a strategic investor in German Bundesliga football club Borussia Dortmund earlier this year. In July, Lars Radoor Soerensen, a former executive at rival Adidas and fashion companies Bestseller and Esprit, was appointed as Puma’s new chief operating officer, replacing Andy Koehler, who stepped down for personal reasons just one year after entering the role.

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