PPR has gained a major stake in Puma.In press release issued by PPR the group announced it has become the majority shareholder with a 62.1% stake in Puma, the German sports brand.
Francois-Henri Pinault, Chairman and CEO of PPR, said:
“We are very pleased with final result of our offer to the Puma shareholders who have sent a strong signal of support for the transaction. We are at the starting point of a fruitful collaboration and will now focus on implementing our long term strategic vision.”
We can only gather that PPR will seek to turn Puma into a luxury brand as we suspected earlier.
Our thoughts are that PPR can succeed and do very well if it moves Puma into a high-end sports couture brand. The cache of the brand name and recent designs is already firmly established within many demographics.
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