Puma to increase 'Forever Faster' store count, invest heavily in e-commerce venture

German sportswear major Puma will further expand the presence of its new concept store ‘Forever Faster’ across the country and also invest heavily on its online website to boost further growth, according a top company official.
 
Puma

The sportswear giant had added its first Forever Faster store in Delhi in April this year and since then added 22 stores across the country. Puma is now looking to take these stores across the country especially in tier II and tier III markets which have so far yielded great results for the company.
 
Puma had reported sales of Rs 921.2 crore (approx $143.8 million) in the last financial year, which the company had said was mostly due to cautious expansion in these markets.
 
"We are now opening only Forever Faster store In India, the latest version of our retail stores. This is the concept we have decided to invest in now onwards," Ganguly told the Economic Times.
 
Even though the investment in these stores in higher Puma is willing to splash the cash as it is confident that these stores will give the desired returns as they have been successful across the world.
 
"The Forever Faster store concept has worked not just in India but in all the other markets. The per-square-foot investment is higher in this concept but we believe it's an investment worth making," Ganguly said.
 
The company is currently in the process of building up its website to sell directly to customers in India and has made investments in technology worth Rs 120 crore (approx $18.8 million). India is an important online market for the country as it contributes over 30% to its total sales with majority of the sales coming from leading e-commerce websites like Flipkart, Jabong, Myntra and Amazon.
 
"We are investing heavily on Puma.com, increasing the size of catalouge on our site and ensuring better supply chain. We have given ourselves six months to drastically improve the experience at Puma.com,” Ganguly added.
 
Currently, Puma has around 360 stores in India and is endorsed by Indian cricketer Virat Kohli.
 
 

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