January 12, 2018 / 7:40 AM / a year ago

Puma CEO says has no plans to take on other brands

FILE PHOTO: The logo of German sports goods firm Puma is seen at the entrance of one of its stores in Vienna, Austria, March 18, 2016. REUTERS/Leonhard Foeger/File Photo

BERLIN (Reuters) - Puma (PUMG.DE) has no plans to take on other brands such as Kering’s (PRTP.PA) Volcom for the moment, the German sports brand’s chief executive said on Friday.

“Having more brands in the portfolio is not the focus at the moment,” Bjorn Gulden told journalists during a conference call after French conglomerate Kering announced late on Thursday that it planned to spin off Puma to its shareholders.

Gulden said there were very few operational synergies with Kering.

“We are already very independent,” he said, adding that Kering had granted Puma a lot of freedom.

Reporting by Emma Thomasson; Writing by Maria Sheahan

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