Kering renounces the majority stake of Puma

Kering decided to give up his majority stake in Puma.

The luxury giant will hold only 16% of the shares of the German sportswear company and will distribute 70%. Artemis, the largest shareholder of Kering, will remain in Puma with a share of about 29%.

This operation, on which the shareholders of Kering will have to express themselves on 26 April, falls within the plan of its manager François Henry Pinault to devote himself to strengthening the luxury sector and to focus on brands such as Gucci, Saint Laurent and Bottega Veneta.

"The contemplated distribution of Puma shares to our shareholders would be a significant milestone in the history of the group. Kering would then dedicate itself entirely to the development of its luxury houses" -  said the man, adding - "We are proud to have supported the turnaround of Puma, which now has unrivalled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth".