PUMA logs sales boost in Asia
A return to growth in China and other nations in the region has helped sporting goods producer PUMA achieve a first-quarter sales revenue growth of 14.4 per cent to total EUR 2.19 billion (USD 2.40 billion/GBP 1.90 billion). The German company’s sales figure in the wider Asia-Pacific area also increased during the three months up to March 31st – by 27.4 per cent. According to Arne Freundt, who became PUMA chief executive officer in November of last year, it is reassuring that the company returned to growth in the China region after more than two years of declining business. He added that PUMA is ‘cautiously optimistic’ about an ongoing positive development.
Within PUMA's range of products, footwear was said to be the dominant category in Q1, with revenue up by 28.8 per cent as a result of ‘strong demand’ for specialist performance categories, including basketball, football, running and training, as well as ‘sport style’ sneakers.
This article was originally published on page 4 of the May 2023 issue of SATRA Bulletin.
Other articles from this issue »