Speaking to reporters after a keynote address sponsored by the HEC Alumni Association of New York at the Consulate General of France, PPR CEO François-Henri Pinault said the French conglomerate is “ having some issues” with the sustainability of Puma’s growth trajectory.

“We are No. 3 [in the space], but still much smaller [than our competitors] and not at all where our ambition is for the brand, so we’re putting in place the right organization to fulfill that. Once we’re on track, we’ll continue to build the portfolio around Puma,” he said, according to Women's Wear Daily, “[We have] to make sure what we’re building around with Puma is not actually competing with Puma.”

Pinault also highlighted the growth potential of Volcom, which it acquired in 2011. Pinault said the outdoor/action-sports area “will never be the key category of Puma, but it’s a very big market segment. It’s really where we think sports performance [and technical product] extends to the lifestyle field, and it’s where we want to express ourselves.”