Kering no longer for Puma, focus on luxury
France's Kering
Paris - Egypt Today
France's Kering said Thursday it would distribute shares in German sporting goods maker Puma to its shareholders to focus exclusively on the luxury sector.
"The contemplated project would enable Kering to reinforce its status as a leading pure player in luxury with an enhanced, best-in-class profitability," said the firm which owns brands such as Gucci, Saint Laurent, Balenciaga and Stella McCartney.
Kering said its board of directors had approved unanimously distributing about 70 percent of Puma's outstanding shares.
The holding company of the Pinault family, Artemis, which owns nearly 41 percent of Kering, plans to be a long-term strategic investor in Puma with a stake of approximately 29 percent, the statement said.
Chief executive Francois-Henri Pinault said the move would be a milestone for Kering, allowing it to dedicate itself to developing its luxury houses.
He said it would also benefit shareholders.
"This operation would enable our shareholders to directly benefit from Puma’s future value creation," said Pinault, adding that the firm has the capabilities to take advantage of growth opportunities.
Source:AFP
- Thursday ,13 December GMT 22:53 2018 Indian Minister of Trade meets with UAE Ambassador, Chairman of Emaar Properties
- Thursday ,06 December GMT 13:41 2018 Tyre maker Continental opens lab to extract rubber from dandelions
- Friday ,30 November GMT 15:23 2018 Paper industry around famous Chinese lake to be shut down by 2019
- Monday ,12 November GMT 16:51 2018 Egypt's exports to Nile basin countries reached EGP 19.9 bln in 2017: CAPMAS
- Friday ,09 November GMT 08:11 2018 Kaspersky Lab CEO suggests replacing cybersecurity with 'cyber-immunity'
- Thursday ,08 November GMT 14:00 2018 Namibian enterprise endeavours to seize opportunities at China import expo
GMT 22:53 2018 Thursday ,13 December
Indian Minister of Trade meets with UAE Ambassador, Chairman of Emaar PropertiesGMT 13:41 2018 Thursday ,06 December
Tyre maker Continental opens lab to extract rubber from dandelionsGMT 15:23 2018 Friday ,30 November
Paper industry around famous Chinese lake to be shut down by 2019GMT 11:13 2018 Sunday ,18 November
Electricx 2018 kicks off with participation of over 20 countriesGMT 16:34 2018 Tuesday ,13 November
Amazon announces new headquarters in New York and WashingtonGMT 16:51 2018 Monday ,12 November
Egypt's exports to Nile basin countries reached EGP 19.9 bln in 2017: CAPMASGMT 08:11 2018 Friday ,09 November
Kaspersky Lab CEO suggests replacing cybersecurity with 'cyber-immunity'GMT 14:00 2018 Thursday ,08 November
Namibian enterprise endeavours to seize opportunities at China import expoRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launc...Read More
GMT 22:42 2018 Thursday ,13 December
'World of Food Abu Dhabi' kicks off at Umm Al Emarat ParkGMT 09:23 2013 Thursday ,03 January
Haifa Wehbe: No 2012 regrets
GMT 06:46 2014 Thursday ,23 October
8 killed as passenger van attacked in south west Pakistan
GMT 16:55 2018 Tuesday ,16 January
Stylist fashion editor commences role
GMT 21:47 2015 Monday ,31 August
Jack Black stars in new 'Goosebumps' trailer
GMT 08:04 2017 Monday ,30 October
Pakistani bridal brand Élan showcases
GMT 11:57 2018 Thursday ,04 January
Thiem through but more seeds fall at Qatar Open
GMT 08:46 2017 Friday ,07 July
Stella Magazine associate editor
GMT 07:46 2017 Monday ,09 October
Egyptian national football team arrives at El Ittihadiyah palace
GMT 10:47 2017 Monday ,09 January
UAE retailer hiring ‘real people’ for runway show
GMT 09:48 2017 Sunday ,22 October
Barcelona roll on calmly amidst Catalan chaos
GMT 08:09 2017 Monday ,27 February
A Useful Guide to Repaint the Exterior of Your Home
GMT 10:19 2017 Wednesday ,27 September
Expo Live launches grant programme for local university students
GMT 13:41 2017 Saturday ,06 May
Shah Rukh Khan’s Dubai film
GMT 23:20 2017 Wednesday ,08 February
In same sportive look as sibling Gigi
GMT 14:00 2018 Tuesday ,11 December
Russia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
GMT 14:10 2018 Friday ,07 December
Lithuania imposes sanctions on Russian citizens involved in Kerch Strait incident
GMT 12:55 2018 Wednesday ,21 November
Bahrain condemns terrorist attack in Afghanistan
GMT 09:17 2018 Monday ,05 November
Edouard Philippe arrives in New Caledonia
GMT 11:20 2018 Friday ,12 October
Young Egyptian woman serves as minister for a day
GMT 10:20 2017 Monday ,29 May
Morocco protest leader arrested
GMT 15:10 2016 Tuesday ,03 May
Dr. Ashrawi on the occasion of World Press Freedom Day
GMT 23:11 2016 Monday ,20 June
Walmart, JD.com announce alliance in China
GMT 11:54 2015 Sunday ,05 July
7 Pakistani troops killed
GMT 18:11 2017 Tuesday ,14 March
EU headscarf ban ruling sparks faith group backlash
GMT 12:14 2017 Thursday ,06 April
Promoters refuse to confirm Manny Pacquiao's fight with Jeff Horn
GMT 00:33 2017 Wednesday ,01 February
Welcome back, Oman!
GMT 11:01 2017 Saturday ,25 February
Spain to cull 17,000 ducks as bird flu hits
GMT 10:18 2017 Wednesday ,26 April
Oslo, London, Amsterdam lead push for greener transport
GMT 12:34 2016 Sunday ,11 September
Samsung Urges Consumers To 'Immediately' Stop Using Galaxy Note 7 Smartphone
GMT 17:40 2014 Monday ,22 September
5 memory strategies for learning anything fast
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor