×
73 192
Fashion Jobs
L'OREAL GROUP
Senior Manager, Operations Development, l'Oreal Dermatological Beauty
Permanent · Clark
L'OREAL GROUP
Retail Keyholder pt
Permanent · Naperville
L'OREAL GROUP
l'Oreal Vice President, Fragrances (Lid)
Permanent · Miami
L'OREAL GROUP
Senior Manager, Search Lead (SEM, SEO & Paid Search) - l'Oreal Consumer Products Division
Permanent · New York
L'OREAL GROUP
Manager, Operations 2nd Shift (1:00pm - 10:15pm) - Grand Rapids, mi
Permanent · Grand Rapids
L'OREAL GROUP
Packaging Operator (6:45am - 6:55pm Saturday - Monday)
Permanent · Franklin Township
L'OREAL GROUP
vp, Business Development
Permanent · New York
L'OREAL GROUP
Maintenance Manager
Permanent · La Vista
L'OREAL GROUP
Senior Analyst - Assembly Planning
Permanent · Clark
L'OREAL GROUP
Senior Manager, Consumer Engagement
Permanent · Jersey City
L'OREAL GROUP
l'Oreal Marketing Brand Manager, Fragrances
Permanent · Miami
L'OREAL GROUP
Senior Manager - Enational Accounts, Walgreens
Permanent · Deerfield
L'OREAL GROUP
Senior Developer, Project Management, Consumer Product Division
Permanent · Clark
L'OREAL GROUP
Assisted Sell Regional Sales Manager
Permanent · Los Angeles
L'OREAL GROUP
Assisted Sell Regional Sales Manager
Permanent · New York
L'OREAL GROUP
Senior Manager, Global Brand Supply Chain
Permanent · Clark
L'OREAL GROUP
Senior Manager - Customer Service
Permanent · Dallas
L'OREAL GROUP
Senior Manager, Digital Content
Permanent · New York
L'OREAL GROUP
Senior Manager - Demand Planning
Permanent · New York
BLOOMINGDALE'S
Outlet Keyholder Selling, Part Time - Bergen Town Center
Permanent · PARAMUS
BLOOMINGDALE'S
Asset Protection Detective, Full Time - Chestnut Hill
Permanent · Newton
BLOOMINGDALE'S
Asset Protection Detective, Full Time - Boca Raton
Permanent · Boca Raton
Translated by
Nicola Mira
Published
Jun 19, 2020
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Artemis to reduce stake in Puma

Translated by
Nicola Mira
Published
Jun 19, 2020

In 2018, Kering began to pull out of Puma. The French luxury giant had decided to focus exclusively on its luxury goods business, and the stake it held in the German sport equipment brand shrank to 15.8%. However, the Pinault family – Kering’s founder - still plays a key role within the sport group founded by Rudolf Dassler in 1948. Artemis, the Pinault family’s private equity company, controlled by Financière Pinault, currently holds a 29% stake in Puma.


Puma



Kering took further steps to reduce its stake in Puma last year. In September, the luxury group launched a bond issue exchangeable for Puma ordinary shares in 2022 for over €550 million. After the operation, Kering ended up owning 10% of Puma.

On Thursday, it was Artemis’s turn to announce a new bond issue in Germany, convertible into Puma shares in 2025. Artemis indicated the conversion premium would be between 35% and 40% over the reference share price of Puma, a similar premium to that indicated by Kering in 2019.

Once the operation will be completed, Artemis expects its stake in Puma to shrink to approximately 25%. The Pinault family will therefore remain a key shareholder in the German group, which last year generated a revenue of €5.5 billion (up 18.4%), and a net income of €262 million, up by 40%.

Copyright © 2023 FashionNetwork.com All rights reserved.