The owner of Puma SE has explored a sale of the German sportswear maker as efforts to revive the brand drag into a fifth year, according to people familiar with the matter.
Puma SE boosted its outlook for 2014 sales as the footwear maker’s investment in a new ad campaign and sponsorships started to take hold.
Hugo Boss AG, the German fashion house whose artistic director has clothed Michelle Obama, lowered its sales and operating profit targets for the year due to a “substantial slowdown” in European demand.
Proceeds from the listing of Rocket Internet shares were lowered to around 1.4 billion euros ($1.75 bln), from an initially targeted 1.6 billion euros, regulatory filings to the Frankfurt Stock Exchange late on Friday show.
Zalando SE surged as much as 14 percent on its trading debut in Frankfurt, as Europe’s largest online fashion retailer kicked off the biggest week in German technology stock sales in a decade.
After years of pitching its shoes and clothing to hipsters in bars, bowling alleys and billiard halls, Puma SE is shifting its marketing focus to bona fide athletes.
Adidas AG rose the most in more than 10 months in Frankfurt trading on a report that hedge funds including Third Point LLC may take a stake and are pushing to remove Chief Executive Officer Herbert Hainer.
Zalando SE, Europe’s largest online shoe and fashion retailer, plans to sell as much as 11 percent of its shares in an initial public offering this year, marking a coming of age for a Berlin-based startup industry that has yet to produce a big sale or IPO.
Permira Advisers LLP is selling a stake valued at 846 million euros ($1.1 billion) in German fashion house Hugo Boss AG to institutional investors.
Zalando SE, Europe’s largest online shoe and fashion retailer, reported a second-quarter profit of 35 million euros ($46 million), giving investors more evidence the company is controlling costs ahead of a potential initial public offering.