PUMA HAS A NEW OWNER

lydia hearst in the latest ad campaign for puma. (wwd.com)

well, i guess it's the season of takeovers. yet another label as been bought out by a corporation. this time the company is none other than the third largest sports brand in the world: puma. the german label just got bought out by ppr, the french luxury label conglomerate, just bought a controlling stake in puma, and now own 62.1% stake of the company. they bought their shares from a private equity firm at $454.94 a share. that's a tidy little profit for whoever owned them.