said it had completed the sale of a 5.9% stake in the German sportswear company for approximately 656 million euros .
Puma struggled after it was bought by Kering for 5.3 billion euros in 2007, but it has enjoyed a revival in the last few years, helped by sponsorships of top soccer teams and partnerships with celebrities like Rihanna and Selena Gomez. However, sales have rebounded as stores have reopened and the pandemic has encouraged more people to take up exercising, with rival NikeThe Nike results had helped Puma shares to return to levels last seen before coronavirus hit in March.
Source: News Formal (newsformal.com)
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