Puma crosses Rs 1000 crore sales mark in India
today Feb 21, 2019
German sportswear maker Puma has crossed the Rs 1,000 crore ($140.6 million) sales mark in India for a period of 12 months ending December 2018.
The company’s sales in the country jumped to Rs 1,157 crore from Rs 958 crore it had reported for the corresponding period a year ago.
India has always been a strong market for Puma however in the last couple of years it had witnessed losses due to a slowdown in sales across platforms.
The company has bounced back to capture the market this year and has been growing faster than its bigger German rival Adidas and market leader Nike, helped by its partnerships with celebrities like Virat Kohli in India and others like Selena Gomez, Rihanna, and Jay-Z who have a huge fan following in the country.
“2018 has been a great year for us. Globally there is huge momentum in the brand. We are making strong progress in both Sports Performance and Sport Style categories,” Puma India’s managing director Abhishek Ganguly told the Times of India.
Puma attributed the rise in revenue to rise in online sales coupled with strong performance from the women’s segment.
“Women’s segment is a key element of our strategy. There are paradigm shifts happening in the India women’s lifestyle, evolving their buying behaviour. We have also tripled our sales through puma.com in this year,” he added.
Puma has recently signed world boxing champion Mary Kom as its brand ambassador for the women’s segment and is expecting strong sales in this sector during the fiscal year.
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