Puma – big cat in great shape – economy

The European Football Championship could not have gone better for Puma. With Italy, of all things, the national team won the title, which for many years has been the world flagship of the Franconian sporting goods manufacturer. In 2006, the Tifosi won the world championship in jerseys, shorts and socks with the predator emblem. When they won the European Championship final a week ago, they beat England, a team dressed by world market leader Nike.

After American brand and local rival Adidas in Herzogenaurach, Puma is number three in the industry. However, the days when Puma dragged a latent inferiority complex, especially vis-à-vis Adidas, due to bad business, are long gone. Especially since Norwegian footballer and ex-professional Björn Gulden took over the chairmanship of the board in 2013 (aside from Corona’s general weakness last year), things have only skyrocketed . And because business is going so well, Puma corrected its expectations for the current year on Friday accordingly. As a result, sales are expected to increase by 20 percent. So far, there has been talk of growth in the order of ten percent. And the announcement at the start of the year that operating profit would be “significantly improved” was now followed by a specification of a target value of between 400 and 500 million euros. Despite the uncertainties associated with the pandemic, despite the shortage of containers and congested ports, despite political tensions in important sales markets.

You do a lot of things at Puma. The direction was not right when Gulden came to Herzogenaurach; too much fashionable fuss and too little sport had watered down the brand’s profile. The manager has brought Puma back to gyms, stadiums and fitness studios – without neglecting the trendy design. In the meantime, thanks to attractive teams, Puma is once again seen as a major supplier to football. After a long absence, the brand returned to basketball, broadened its involvement in running, and targeted fitness-savvy women.

New products are also well received, as the sales figures show: between April and June, sales doubled (although measured against a low corona-related level in Q2 2020) to slightly lower. of 1.6 billion euros. And instead of a loss of 115 million euros, there is an operating profit of 109 million euros on the books. The fact that the stock price fell slightly on Friday is linked to profit taking, experts say.

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