Puma in India: late, but a leader
Sportswear brand Puma has become a leader in the Indian market, despite a late entry. The brand’s CEO, Bjorn Gulden, recently said that he sees India becoming one of the top five global markets for Puma, as Indians are showing more and more interest in sporting goods. Key to this growth in the country is constant reinvention, evolving alongside India’s nascent market, and high engagement with consumers.
Puma-owner Kering has seen its share price rise by 78% so far this year
SOURCE: Yahoo Finance
According to Debsomita Majumdar, Puma India’s head of marketing, the country represents a strategic foothold for the brand. She told marketing publication The Drum:
"India is a very strategic market for us. Though we entered the Indian market in 2006 - much after other players – we have grown to become the leading sportswear brand in the country in just one decade. Our brand and products are extremely popular with our target consumer group i.e. the millennials and Generation Z. India is also a key market for us when it comes to launching innovative products."
"What has worked for us is the new and exciting ways that we engage with our consumers. This, coupled with extremely high-on-style products, has helped us stay ahead of the game. In the coming years as well, we will continue to engage with our consumers by bringing them the most unique experiences and cutting edge products that are high on performance and style."
Puma has poured money and effort into India to achieve its coveted position. The company has used sporting legends like Usain Bolt, Boris Becker and Thierry Henry to push its brand, launched an India Arsenal kit, and even created a “mini museum” for fans to “relive nostalgic moments. But perhaps the most impressive initiative has been to invite select fans to attend live games at the Emirates stadium.
Majumdar says: "Our strategy is to identify our target group and find an authentic voice to communicate to them, and present to them the brand in the way that they associate and relate to it. We always strive to create exciting yet engaging experiences for our consumers, so they understand that Puma wants to invest in them." It seems to be working.
Dominion holds Kering, the parent of Puma, in its Global Trends Luxury Fund.
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