Further blurring the line between luxury and reality, mega-luxury conglomerate PPR has purchased Puma for the cool sum of $7 billion. PPR, who controls houses such as Gucci and Yves Saint Laurent, will also purchase Puma subsidiary Sapardis. “I am delighted to have reached an agreement with Mayfair supported by Puma which creates the basis for a combined future for our two Groups,” said Francois-Henri Pinault, Chairman and CEO of PPR.
PPR has previous experience working with Puma, from the ...
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