French luxury conglomerate Kering , owned by the Pinault family , is all set to become a pure-player in luxury and wants to sell the last of its sports and lifestyle acquisitions . In a recent announcement , the company has said that it is looking to sell its skate-infused streetwear brand Volcom . In a statement from the Group , it said : “ In accordance with Kering ’ s strategy to fully dedicate itself to the development of its luxury houses , Volcom no longer constitutes a core asset and Kering has initiated a disposal process .” Kering had bought Volcom in 2011 for US $ 608 million after having acquired Puma in |
2007 and Cobra Golf in 2010 as a way to expand into the booming world of sportswear . However , in 2017 , François-Henri Pinault exited |
Puma ’ s board and in January 2018 , it was announced that Kering is selling its majority stake in Puma to focus on other higher margin |
brands in its portfolio . At the time of announcing Puma ’ s dismissal , a press statement was released that said , “ This proposal will allow us to strengthen our status as the best in the sector . Kering is aiming to continue growing and developing its ensemble of luxury houses in couture , leather goods , watches and jewellery , leveraging its higher cash flow generation and a solid financial situation .” At the moment , Kering owns some of fashion ’ s biggest heritage brands in Europe including Gucci , Yves Saint Laurent , Balenciaga , Alexander McQueen , amongst several others . |
After reporting a massive 57 per cent increase in its online sales at 1.5 billion Euros in 2017 , Germanybased sportswear company Adidas is considering to sell more products through e-stores . This was revealed by its Chief Executive |
Kasper Rorsted in an interview . “ The retailer will contract the number of its store slightly and maintain better quality stores ,” Rorsted was quoted as saying by Financial Times . Even though the sports company is shrinking its |
physical footprint , it will open or refashion stores in key locations to enhance the customer ’ s shopping experience . The retailer , which currently operates 2,500 stores globally and 13,000 additional mono-branded franchise stores , is |
planning to double its online sales from 1.6 billion Euros last year to 4 billion Euros ( US $ 4.91 billion ) by 2020 . The group is hiring 200 staff with a digital focus who can help the company to achieve the target .
A smartphone app was earlier introduced by Adidas to promote personalisation across its online community , it will now be launched in France , Spain and Canada this year ; It is currently available in the US , the UK and Germany . The CEO even termed Adidas ’ website ‘ the most important store we have in the world ’. However , it remains to be seen how Adidas maintains its growth rate to compete against the likes of Nike and Under Armour , which have been rapidly eating into Adidas ’ sports market in the US .
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