Kering's Future Looks Sporty

Kering may consider investing in more sportswear brands, CEO François-Henri Pinault said yesterday, depending on the performance of its current progeny, Puma. The French luxury conglomerate is working to strengthen its only sportswear label in order to justify long-term investment in the category.

"The portfolio of our sports brands is not finished," Pinault told  Blomberg. "We've started it but, until Puma is on track, we won't make any acquisitions. Let's say two, three years from now, we will look again to try and strengthen that portfolio."

Kering

Pinault revealed that Kering will spend €70 million to strengthen Puma - under a new slogan, Forever Faster - and added that selling the German-based brand was not an option.

"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," he said. "Luxury and sports are structurally, over a long period of time, growing markets."