PPR ups its stake in Puma - footwearbiz: Leading site for global footw

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PPR ups its stake in Puma

24/04/2008

During its announcement of first quarter results, luxury goods group PPR said it had increased its stake in athletic footwear and apparel brand Puma to 66.8%.

Amid disappointing results for some of its brands, notably Gucci, Puma's sales rose by 6.6% for the quarter in comparative terms.

PPR's original bid for control of Puma came a year ago and the group announced last summer that its share had reached 62.1%.

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