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Puma takes punt on footwear to turn fortunes around

24/07/2015
The CEO of Puma has said the company is basing its turnaround plans on footwear, and growth in the sector led to a 7.6% rise in second quarter sales to €772.7 million.

The company is trying to offset the negative effect of currencies by raising prices in those markets and "when possible, moving some of the sourcing to the local markets“.

Bjørn Gulden added: "Growth in footwear is key for us to turn the company around and we feel that the investment in new and innovative products is starting to pay off.

"Despite the pressure on margins, we have decided to continue our investments in marketing, IT, and in the modernising of our retail network. We believe these investments are needed to regain the strength of the brand and to ensure long-term growth for the company. We have a vision of becoming the fastest sports brand in the world and know that we have to invest now to achieve our goal long term.”

Related stories:

Puma to increase focus on female customers 09/11/2015
Role shifts at Puma 02/10/2015
Rihanna’s first product as Puma’s creative director: a creeper 15/09/2015
Puma expands Bolt’s shoes to cross-training 21/08/2015
Puma to launch 'running' eyewear through sister brand tie-up 08/07/2015
Puma sells “iconic” footwear brand to New York group 01/07/2015
Nike outstrips rivals as top footwear choice for US children 17/06/2015
Footwear growth shows Puma 'on right path' 06/05/2015
Puma develops cooling technology with Jamaican athletes 27/04/2015
‘Good start’ for Puma 23/04/2015
Puma appointment to grow athlete portfolio 30/03/2015
Puma says industry will raise prices next year 20/03/2015
Puma adds Outlast to ‘coolest shoe in golf’ 17/02/2015

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