French luxury group Kering "continued to dismantle its sports and lifestyle unit with another disposal," boosting speculation the owner of Gucci may exit Puma, the ailing German shoemaker it bought in '07, according to Andrew Roberts of BLOOMBERG. Kering sold snow-goggle maker Electric to a group led by the brand’s CEO, the Paris-based company said Wednesday. Electric, which Kering acquired when it bought skategear maker Volcom in '11, was "probably unprofitable last year" on sales of $25M, according to estimates by MainFirst Bank AG analyst John Guy. He said that "the small deal makes sense," as it allows Kering to "allocate capital elsewhere." He added, "Could this be the start of increased focus on returns, which may ultimately seal the sporting-goods division’s fate?" Kering has not said if it "plans to sell Puma, nor has it ruled it out since Bloomberg News reported in November the French company was open to disposing of the brand." Kering Chair & CEO François-Henri Pinault said earlier this year that Kering's priority is making the brand "more profitable" (BLOOMBERG, 3/17).
