Puma AG sold its majority stake in British fashion maker Chalayan LLP less than two years after acquiring the brand. Terms were not disclosed.
Hussein Chalayan, Puma's creative director, bought back the stake that he sold to Puma in February 2008, Herzogenaurach, Germany-based Puma said today in an e- mailed statement to Bloomberg News. Chalayan, the founder of the fashion brand, will continue to develop Puma's lifestyle sport collections.
