François-Henri Pinault, chief executive of Kering, the majority shareholder of Puma, has denied plans to sell its 86 percent stake in the German sporting goods and lifestyle brand, whether fully or partly. It was said that Pinault still sees reasonable potential in Puma, whose majority Kering – then named PPR – acquired in 2007. At the time, PPR paid €330 per share. It is now only worth some €170.
As reported on this newsblog last December, Kering had apparently examined various options to get rid of its investment in Puma. During the release of Puma’s figures for 2014 earlier this week, its CEO, Bjørn Gulden indicated that the company’s sales and profits would be on the rise again throughout the current year.