Gucci CEO Francois-Henri Pinault said that the fashion brand's owner Kering SA "will consider acquiring sports and lifestyle brands in three years as it assesses the performance of the Puma label," according to BLOOMBERG.
Any deal "will hinge on Kering’s ability to reverse the fortunes of Puma," which has been undertaking a reorganization since '09. Pinault, who’s also Kering’s chairman, said that "he's 'convinced' the Paris-based company should have a sports- and lifestyle-oriented business." Pinault: "When you look at the next 20, 30 years in terms of economic development of the world, the key markets are young people very much attracted by brands, very much aware of the health issues, attracted by sports. Luxury and sports are structurally, over a long period of time, growing markets." Pinault said that the French company will spend €70M ($97M) "to strengthen Puma under a new slogan of 'Forever Faster.'" The 51-year-old also "ruled out selling" Puma. He said, "The portfolio of our sports brands is not finished. We’ve started it but, until Puma is on track, we won’t make any acquisitions." Pinault said that the first signs of the marketing campaign’s success "will come in September and October, when wholesale orders are taken" (BLOOMBERG, 4/10).
