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PPR increases stake in Puma

French luxury group PPR, the business behind brands including Gucci, Stella McCartney and Alexander McQueen, has increased its stake in sportswear brand Puma.

PPR now holds a 75.1% stake in the German-based sportswear brand, up from its previous 71.6% stake and this new figure also includes a 1.15% share of the stock that will remain held by Puma.

Last month Puma reported strong second-quarter results, said to be the best for sales in the company’s history, and confirmed its full-year sales target of €3bn (£2.6bn).

At the end of last year former Puma chief executive Jochen Zeitz became head of the sport and lifestyle division and chief sustainability officer for PPR and executive chairman at Puma, while Franz Koch took over as Puma’s chief executive.

 

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