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PPR takes control of Puma

PPR, the French luxury goods maker and owner of Gucci, has taken control of Puma – it currently holds a 62.1 per cent stake in the company.

Says Jochen Zeitz, CEO and chairman of Puma AG: “We are pleased that the Puma shareholders have with their vote supported the junction of Puma with the PPR group and set the basis for a successful cooperation. With the support of PPR we will use the large potential of our brand and the emerging possibilities on a long-term basis and will invest into brand building, enabling us to further strengthen our position as the leading company in the ‘sportlifestyle’ market.”

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