2017 was a record year for Puma – brand positive for 2018
Puma hit a new record in 2017 by bringing in €4 billion in sales for the year. On Monday, the fashionable German athleisure brand said that every geographic region in which it operates contributed “double digit” sales growth for the year. Footwear continues to be the label’s main driver, growing by 21% year on year, and passing its 14th consecutive quarter of growth. Overall, Puma said it saw 16% growth for the year against 2016 – a “great year” according to CEO Bjørn Gulden.
Puma-owner Kering has seen its share price appreciate by 64% over the past 12 months
SOURCE: Yahoo Finance
Gulden said that the brand’s biggest disappointment in 2017 was Italy’s failure to qualify for the 2018 FIFA World Cup. The brand has agreed to work with the Senegalese team, but doubts that this will be as lucrative as the Italy deal could have been. Gulden told the press that “Italy not qualifying of course was tough for us, because – as you can imagine – you prepare for a world cup not after qualification,” nonetheless, he says “we think 2018 will be a turnaround year for our soccer business.”
Gulden is also feeling positive about another factor in Puma’s future: its impending decoupling from parent company Kering. He said:
“We are also pleased by Kering’s proposal to reduce their ownership in Puma by a distribution of dividend in kind to its shareholders. This will allow us to continue our positive development and make Puma the fastest sports brand in the world.”
Dominion holds Kering, the parent company of Puma, in its Global Trends Luxury Fund.
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