Eager to focus on its luxury labels of Gucci, which generated 70% of Kering’s total profit in 2017, the luxury giant aims to split off Puma through a share offer. This is valued at €5.8 billion and driving 27% of its business, so Kering would retain 16% of Puma’s shares, Artemis (the Pinault family holding) would keep 29%, leaving a floating capital of 55%. The deal should be profitable for Kering, as Puma has charted a flawless course for 5 years. Its turnover grew from €3 billion
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