Puma’s sustained growth in India drives global performance
German sportswear brand Puma said its performance in India has boosted international sales and, as a strategic market for the brand, contributed to the Asia-Pacific region becoming the business’ strongest market.
Puma reported a revenue total of Rs 1,413 crore ($212.4 million) in India in the 2019 calendar year, ET Bureau reported. The business saw its like-for-like store sales grow by 17% and womenswear performed especially well, now accounting for 28% of the brand’s total sales compared to 24% at the end of 2018. The whole Asia-Pacific region was the brand’s strongest market in 2019, as sales grew by 26% in 2019, with China and India leading the growth spurt.
“It’s great to see the brand record sustained growth in India,” Puma’s global chief executive Bjorn Gulden said in a statement, ET Bureau reported. “It is a strategic market for Puma. A combination of global strength and local execution has accelerated the brand’s momentum in the country.”
Some of the reasons for Puma’s success in the Indian market include its growing young population and increasing nationwide interest in fitness and western casual wear. Gulden believes these trends will continue and set-up the brand for continued success in the country.
Puma runs 365 stores across India and also retails online. The brand counts Indian sports players and athletes, Virat Kohli, Sunil Chhetri, and Mary Kom, as brand ambassadors, as well as actress, Sarah Ali Khan.
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