Puma is Back, and their Profits are Bigger Than Ever!
Something that we’ve known for a while, PUMA is awesome and it seems that the rest of the world is finally catching up. Puma is killing it! The sportswear company based out of Germany reported amazing results this fiscal year with a sales increase of 15 percent. What makes the numbers even more interesting is the fact that Puma’s footwear division grew almost 25 percent in comparison to the same quarter last year. One of the biggest growth’s Puma saw was in the American market growing to approximately $377 million USD. For the first time ever the brand experience more than a billion dollars in sales globally in a quarter.
This growth shows that PUMA is on the right path and could spell trouble for mid-level competitors like Under Armour.
While new designs and a refocused approach to lifestyle sportswear have made Puma a success, it can easily be argued that a huge portion of Puma’s recent surge in popularity is due to their timely celebrity endorsements from the likes of Rihanna, Kylie Jenner and the Weeknd.