The world's largest clothing brand VF will acquire PUMA Sports Brand Date: 2015-07-21 11:04
Recently, it is reported that VF, the world's largest clothing brand, is interested in purchasing Puma. VF has taken The North Face, Vans and Timberland in outdoor areas. If it can win Puma with a valuation of about 2.8 billion euros, it will be a cost-effective acquisition price for VF, and it will bring new outdoor business to extremes. supplement.
VF is one of the largest garment manufacturers in the world and the highest value apparel company in the United States. At present, the market value of the company is valued at US$27.03 billion. Since 2000, VF has begun to purchase apparel brands in a cross-border fashion. It once saved The North Face, which was on the verge of bankruptcy, for US$135 million, and later won Vans for US$396 million. In 2007, they successively acquired Majestic Athletic, 7 for all Mankind and lucy Activewear. Four years ago, Timberland was bought for $2.2 billion. If the current valuation of Puma 2.8 billion euros, calculated at a 20% premium, the VF purchase price is between 3.4 billion and 4.2 billion euros.
According to an analysis by Thomas Chauvet, an analyst at Citigroup, the world's largest bank and financial institution, Kering Group may sell Puma and its other sports and leisure products departments within the next 12-18 months. Puma's operating profit margin has shrunk by more than 10% this year. Shrink further to 2.6%.
Puma has been regarded as the world's third-largest sports brand after Nike and adidas, but it is difficult to support this title with existing market influence. According to financial data, Puma's net income fell by 30.3% to 24.8 million euros in the first quarter, and sales rose by 13.2%, excluding the impact of currency exchange rate fluctuations, which was an increase of 4.4%. Affected by currency, the company's gross profit margin dropped from 48.5% to 46.9%.
What makes Puma worry is that brands such as Under Armour are growing rapidly, and Puma's transformation is not ideal. In Taikoo Li, Sanlitun, Beijing, where Puma, Adidas and Nike are all located, adidas under the entire building has integrated its multi-product line to create a flagship flagship image. Nike made a sub-concept store based on the theme of running. Puma separates sports and fashion-conscious high-end black label shops from two different positions. However, there is a clear gap between popularity and the above two brands.
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