FRANCE: PPR raises stake in Puma
The French firm, whose brands include Gucci, Yves Saint Laurent, Alexander McQueen and Stella McCartney, now owns a 75.12% share in Puma, up 1.15 % since the end of 2010.
PPR told the stock exchange of the increase last Wednesday (3 August) - but declined to comment on the reason behind the move when contacted by just-style.
Last month, PPR reported a 16.1% jump in profit in the first six months of the year, rising to EUR450m (US$646m) from EUR388m in the same period last year - and said it was confident of "sustained" growth in the second half.
Puma, too, posted double-digit increases in both profit and revenue in the second quarter, and confirmed that its target of EUR3bn in full-year sales is achievable.
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