Kering, parent company of sportswear firm Puma, is said to have explored the potential sale of the brand earlier this year, according to inside sources. The possible sale comes five years after Kering acquired control of the sportswear brand and attempts to invigorate Puma's image and sales.
The company reportedly contacted potential buyers earlier this year to test the waters, but the private talks have not lead to any purchase proposals and it remains unclear if Kering is still interested in a sale.
Nevertheless, the company has been busy investing in boosting the brand's image. Earlier this week Francois-Henri Pinault, Chairman at Kering, revealed to Business of Fashion that he believes the company should have a sports and lifestyle division, but added that the sector would not be developed until Puma had successfully been revived.
This fall the launched the “Forever Faster” campaign featuring established athletes like Usain Bolt, which helped boost footwear sales at the label, its first increase in the past seven quarters.
Then on Tuesday Puma announced that artist Rihanna had been signed on as its women's creative director, global ambassador and campaign star. She is the latest high profile individual to join Puma, which may signal a renewed effort on Kering's behalf to increase the brand's presence.