Puma sells Swedish tennis brand to US firm
Published 01/07/2015 | 02:30
German sportswear company Puma is selling the rights to the Swedish footwear brand Tretorn to US firm Authentic Brands Group (ABG) as part of its strategy to narrow the focus of its business.
ABG controls product licencing rights for a range of brands, including Elvis Presley and Marilyn Monroe.
Puma original bought the Tretorn brand in 2002.
Tretorn is best known for its tennis balls and tennis shoes once worn by the likes of Bjorn Borg and Martina Navratilova, but it also makes rubber boots, riding boots and tennis equipment.
Puma said in a statement that Tretorn's management would acquire the operating license from ABG and continue the business in the Scandinavian and European markets.
"This sale is a natural consequence of Puma's vision to become the fastest sports brand in the world, focusing on its core categories within its core brands Puma and Cobra Golf," it said.