Blog: PPR grabs Puma
Leonie Barrie | 10 April 2007
For more than a year now rumours have been circulating that Puma might be the subject of bid speculation, but the name most have associated with a possible takeover is Nike. It now transpires, though, that French fashion retailer PPR is waiting in the wings with a EUR5.3bn offer that would take the German sportswear brand into its fold, alongside luxury labels like Gucci, Stella McCartney and Balenciaga.
While the synergies might not be obvious at first, PPR has itself pointed to the "blurring boundaries between traditional categories: high-street fast fashion, premium and luxury," as grounds for the bid. And it has already dipped a toe into the sportswear market, with Stella McCartney designing a range for Adidas and Alexander McQueen putting his name to a luxury sports shoes for Puma. There are also benefits to be gained for Puma, which can now tap into PPR’s expertise in international markets as well as access its in-house design and sourcing skills to help expand its lines and distribution.
But until the deal has been signed and sealed it’s likely that rumours of a counter offer from Nike are likely to persist – particularly since the world’s number one sportswear brand signed a deal at the end of last year for a new credit line allowing it to borrow up to US$1bn.
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