The German company, until last year owned by Kering, has collaborated with singers and celebrities to face its conquest of urban fashion.
From gyms to the street. As Puma gained independence from Kering, the brand has been embracing collaborations with celebrities to position itself as a fashion brand. The context was perfect: athleisure was imposing as the trend. But does it compensate?
The German company has increased its sales by 84.4% in the last ten years, from around 2.5 billion euros in 2008 to more than 4.6 billion euros. In the same period, the company’s profit has exploded, up to 187.4 million euros, although the margin has dropped, standing at 48.4% last year.
The turning point came in 2015, with the incorporation of Rihanna as the new creative director. The arrival of the singer returned brightness to the results of Puma: after two years in decline, the sales of the brand skyrocketed that year by 12.3% and have remained upward since.
Profitability was also up. After reducing its net result by 14% in 2013 and 0.2% in 2014, the net result of the group rose in 2015 with an increase of 10.1%. The margin, meanwhile, has remained up since, going from 45.5% the year Rihanna entered to 48.4% in the last year.
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