Puma India targets market gains over mid-term
29 April 2022, Mumbai:
Amidst the growing pandemic spread in China and the Ukraine-Russia war, Puma India plans to focus on gaining market share and increasing bottom lines over mid-tern rather than focusing on short-term gains that increase operating expenses and impact .profit margins, he adds.
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Puma India sold over products in all categories during its first quarter with most growth in running, football, basketball and golf apparel, informs Bjorn Gulden, CEO, However, the brand has decided to stick to its initial outlook for the year given the increased uncertainty in the world currently.
Benefitting from investments in innovation and marketing, the earnings before interest and taxes of Puma increased 27 percent to €196 million ($208.62 million) in the first three months of 2022, compared to analysts' average forecast for EBIT of €181.5 million.
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Puma India is one of the country’s leading sports brands, designing, developing, selling, and marketing footwear, apparel, and accessories.
The German-headquartered brand forayed into India in 2006 and has since relentlessly pushed sport and culture forward through its performance and sport-inspired lifestyle products through a wide roster of brand ambassadors across disciplines such as Cricket, Football, Running and Training, Motorsports, Golf, and Basketball. The brand has top faces of India such as cricketers Virat Kohli and KL Rahul, Bollywood actors.
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