France’s Kering pares stake in Puma to focus on luxury brands

An employee arranges a Puma running shoe display inside the sportswear company's concept store at the Puma SE headquarters in Herzogenaurach, Germany, on Thursday, Feb. 9, 2017. Photographer: Alex Kraus/Bloomberg

French luxury group Kering SA is relinquishing control of Puma SE after about a decade, acknowledging that its expertise rests with catwalk brands like Gucci and Saint Laurent rather than developing the German track-and-field outfitter.

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