By  on April 26, 2018

PARIS — Kering pushed through with its plans to become a luxury pure player Thursday, winning shareholder approval for the spin-off of the bulk of its shares in German sportswear group Puma.

“Ten years ago, PPR was a retail group that generated 17 percent of its sales in luxury…last year, luxury represented 70 percent of Kering sales,” said Jean-François Palus, group managing director, referring to Kering’s previous name, PPR.

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