Puma Power

Puma may not traditionally have much in common with luxury designer brands, but that all changed as PPR, the French conglomerate which owns Gucci and YSL, snapped up the controlling share in the sportswear group. "This is a favorable moment for the convergence of sport and fashion," said Francois-Henri Pinault, chairman and chief executive officer of PPR. The move may not be as incongrous as it first seems – last year Puma collaborated with PPR stable mate Alexander McQueen on a footwear range and it has always marketed itself as a lifestyle, rather than a sportwear, brand. "Both companies have a European background and ideally complement each other with regard to their global perspective," Puma's chief executive and chairman, Jochen Zeitz, added. PPR is now looking to buy the Puma brand outright and expand it on an international scale.