Gucci parent company Kaiyun group will continue to reduce its stake in puma

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 Gucci parent company Kaiyun group will continue to reduce its stake in puma


Since then, pumas sense of existence in Kaiyun has gradually weakened. Until the end of 2014, when the brand announced to sign a contract with Rihanna, a popular singer, its performance began to improve. However, Kaiyun group has long characterized it as a non strategic asset. In the three months ended September 30, 2017, pumas sales increased by 17% to 1.122 billion euros, accounting for one third of the total revenue of Kaiyun group, and its net profit soared by 57% to 62.1 million euros, but its net profit margin was only 5.5%, far lower than luxury brands such as Gucci and Saint Laurent.

In recent years, in order to better focus on the luxury business, Kaiyun group said it would spin off a majority stake in its German sports brand puma. When talking about the reasons for the spin off, relevant people of Kaiyun group explained that since the acquisition of Puma ten years ago, investors have been hoping that Kaiyun group, which owns luxury brands such as Gucci, YSL and Bottega Veneta, can sell this non luxury business.

Extended reading: Johnson & Johnson will stop selling a number of whitening products, which is implicated in racial inequality awareness, human beauty, kindness, Rihanna donated $15 million to didi travel for the fourth time, Liu Qing, President of didi travel, responded as the sole director of Kaiyun group. Source: Netease fashion editor: Liu Xu_ NQ7809