Puma has had a strong first quarter. Despite some production problems, it looks like the company is recovering after a difficult pandemic year 2020.
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Sneaker brand Puma has appointed Ben Hughes as its new general manager for the region "UKIB" (United Kingdom, Ireland, Belgium, Luxembourg and the Netherlands). Hughes has been sales director for the same region since 2014.
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Puma has seen its profits fall by nearly 62 % in the first quarter, while its revenue only fell by 1.3 %. E-commerce managed to save part of the sports brand's performance, but it looks like worse is yet to come.
German sports fashion rivals Adidas and Puma have issued sales and profit warnings due to the corona virus. Adidas fears about a billion euros in turnover and half a billion in profits may go up in smoke as the pandemic rages over the world, causing shops to close and sports events to get cancelled.
German sports brand Puma has had an excellent quarter, as both turnover and profit grew in double digits. The company is revising its full-year forecast upwards.
Sports brand Puma and Amazon have launched a joint leisurewear label called 'Care Of', which will be exclusively for sale through Amazon's marketplace.
In its past fiscal year, German sports brand Puma surpassed the four billion euro turnover milestone for the first time ever. That was thanks to a 16 % turnover growth compared to the year before.
Now that Frank Dassler has left German sports brand Adidas, it signals the end of the Dassler family’s reign. He was Rudi Dassler’s grandson, the man who founded competitor Puma.
French luxury group Kering will get rid of 70 % of German sports brand Puma’s shares and wants to turn its attention to its luxury brands. Puma does not fit into that category.
German sports brand Puma has performed very well in the third quarter once again: turnover grew 13 % and in the first nine months, the company even achieved a 16 % turnover increase.
For the second time this fiscal year, German sports brand Puma increased its profit forecast. A strong first quarter prompted the first adjustment and this second quarter was also above expectations apparently.
French luxury group Kering has sold yet another sports brand: snow glass brand Electric. Last year, Kering already sold shoe brand Tretorn and there are rumours saying it will also cast Puma aside.
Puma's collaboration with world famous singer Rihanna has yielded results as its new shoe line, promoted by the singer, performed better than expected.