The Kering Group renounces Puma 

Kering renounces the sport-lifestyle sector, announcing its plan to sell its majority stake in Puma shares to focus on the luxury companies it owns, such as Gucci, Saint Laurent or Bottega Veneta. “This project will allow Kering to strengthen its status as a pure luxury player, with an increased level of profitability, positioning the group among the best in its sector, Kering’s goal is to continue to grow and develop its luxury brands in the fields of fashion, leather goods, jewelery and watchmaking based on its high capacity to generate cash flow and its solid financial situation “, the group explains in a statement.

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