Kering to sell Puma and, perhaps, 50 per cent of Stella McCartney, while walking across the endless path of luxury

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The first transfer is very close at this point, so much so that Kering group are already preparing the publication, in advance, of their financial statement (on the agenda on February 12), to reassure markets about development potential. Berenger’s analysts clear up that in 2017 Puma’s turnover supposedly went up by 17 per cent (better than expected, that is, 16,5 per cent), and revenues amounted to around 4 billion euros. The group, owned by the Pinault family, who’s been Puma’s majority shareholder for ten years, announced, at the end of 2017, their divestiture plan, aiming to focus their work, and their identity then, on “pure luxury”. Yet Kering, who’s been recently awarded the prize, by 100 Global Knights Corporation, as the best ranked sustainable group in the “Textile, Luxury Apparel” industry (for the records, they are the only valued company), are planning another prospective transfer. A prominent one. In fact, the Pinault family might give up their block of shares, that is 50 per cent, of Stella McCartney, after a fifteen-year-long joint- venture. As reported by Reuters, allegedly this is not the first time they talk about their mutual partnership. After several talks in the past, they are now seriously thinking of terminating their joint-venture. It is common knowledge that Kering, while attending to their statements over financial outcomes, usually group Stella McCartney and “minor” brands together under the heading “Other Luxury Brands”: in other words, earnings coming from the eco-chic fashion house are marginal, compared to the French group’s gigantic revenues. On the other hand, Mainfirst’s analysts point out, in the Financial Times, that supposedly Kering’s top managers consider McCartney’s business expansion to be fully developed: the brand is performing well in the “ready to wear and athleisure” sector, though it is unlikely to speed up in other commodity sectors “as Balenciaga and Alexander McQueen did”. Kering, for sure, have their own strategy: we’ll find out more about it in the months to come.

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