Puma to set up Israel subsidiary
German sportswear company Puma is setting up its first subsidiary in Israel. For the past 20 years, the company has been represented in Israel by Grundman & Co.
In addition to the marketing of Puma’s products at 350 points of sale across the country, Grundman has also set up five Puma concept stores. Puma’s new representative will continue working with Grundman.
Grundman said in response: “This is a process that happens all around the world: when a market segment reaches a respectable size, like what happened in Israel, the international company wants the activity for itself. Puma is among the top three in Israel, alongside Nike and adidas. It’s kind of absurd that the better the local agent and the more achievements he reaches, the bigger the chance that the international company will take control of the activity.
“Nonetheless, the change will take place in the right spirit and in full cooperation with us.”
