Puma’s free float will increase to around 55 per cent. The contemplated project will enable Kering to reinforce its status as a leading pure player in luxury with an enhanced, best-in-class profitability. The group’s ambition is to continue to grow and develop its powerful ensemble of Houses in couture, leather goods, jewellery and watches, leveraging on its high cash-flow generation and strong financial position.
"Upon completion of the envisaged distribution of Puma shares, Kering shareholders would directly benefit from the value creation potential of a world-leading and iconic sports brand, further enhanced by an increased free float and stock market visibility. With Puma’s unique DNA, heritage of innovation and creativity, the ongoing successful implementation of its 'Forever Faster' transformation plan has started to deliver results. The brand is enjoying strong revenue growth momentum and achieving an improvement in its profitability. Furthermore, Puma’s management team is fully committed to pursue its successful strategy, and continue to deliver the growth and profitability potential of the brand," Kering said in a press release.
"The contemplated distribution of Puma shares to our shareholders would be a significant milestone in the history of the group. Kering would dedicate itself entirely to the development of its luxury houses, whose enduring appeal, built on creative audacity and innovativeness, will allow us to continue to gain market share and create value," François-Henri Pinault, chairman and CEO of Kering, said.
"This operation would enable our shareholders to directly benefit from Puma’s future value creation. 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, led by its talented and passionate management team. We have laid strong foundations for a bright future for Puma. The full support of both Artémis, which would become Puma’s main shareholder, and Kering, as a significant minority shareholder, reflects a strong confidence in the company’s ability to continue to deliver its strategic and financial objectives," explained Pinault. (RR)
Fibre2Fashion News Desk – India
Textiles | On 23rd Jan 2021
Bellegprom, the light industry concern of the Belarusian ministry of...
Despite US cotton production falling 5 million bales from the...
Apparel/Garments | On 23rd Jan 2021
Bangladesh commerce minister Tipu Munshi recently highlighted the...
Textile Industry Head honchos
Virtual reality would be the new normal
Smarth Bansal Colorjet India Limited
We would like to venture more companies into the Indian market
Sanjay Desai & Ashish Mulani True Colors
Digital textile printing will be the technology of the future
Fan Liyuan
Chinese company Jiangsu Yingyang Nonwoven Machinery, established in 1993,...
Tom Adeyoola
Describing itself as the best body shape and garment fit company in the...
Ravi Raj Desai
Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...
Johan Berlin InvestKonsult Sweden AB
Investkonsult Sweden AB has been buying and selling second-hand textile...
Isabel Herranz European School of Business & innovation
Cutting-edge ideas like the Internet of Things and artificial intelligence ...
Asif Rahman MIP
MIP is a manufacturer and distributor of high-performance textiles and...
Prathyusha Garimella Prathyusha Garimella
Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...
Sonam & Paras Modi SVA
Sonam and Paras Modi's Sva Couture is synonymous with head-turning...
Varsha Wadhwa VW
Coming from a family that ran a business of jute and linen mills since...
Press Release
Letter to Editor
RSS Feed
Search Companies
editorial@fibre2fashion.com
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.