Kering investing in sports brands

Kering CEO Francois-Henri Pinault said recently that the company might be considering investing in more sportswear brands depending on the performance of its current progeny, Puma. The French luxury conglomerate is working to strengthen its only sportswear brand to justify their long-term investment in the category. Pinault revealed that Kering will spend ¤ 70 million to strengthen Puma – under a new slogan, Forever Faster – and also that selling the German-based brand was not an option they would consider. “Luxury and sports are structurally, over a long period of time, growing markets,” he said.