German sports brand Puma has started 2011 so well, that the company raised its turnover estimates to over 3 billion euro. If they succeed, Puma’s turnover will be more than 10% bigger than last year’s. The world’s third largest sports brand (behind American Nike and ‘brother company’ adidas) ended 2010 with a revenue of 2.706 billion euro.
US, Asia, golf push Puma forward
Puma saw its quarterly turnover rise to 773 million euro (+13%) and its quarterly profits to 77.7 million euro (+7%), greatly pleasing their owners, French luxury group PPR. The US and Asia contributed greatly to Puma’s growth, as did their equally beastly named golf brand Cobra.
In four years, the Bavarian shoe giant hopes to cross the 4 billion euro barrier.