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News Flash
Puma on a roll with ambitious plans
24 Oct '06
1 min read
Sport giant Puma that boasts 80 stores, plans to open three times the existing number of outlets all over the world by 2010.
Currently, almost 50 percent of the shops are located in the US.
To challenge the dominance of Nike in the US, Puma is all set to launch five new stores this year, introducing its high-end footwear.
"We have some key accounts in the U.S. and the rest of the world, but to really limit the risk for our brand we have to have our own stores, which we can control," said Michael Specht, Puma's Global Head of retail.
In 2005, Puma posted a profit of 286 million euros on sales of 1.78 billion euros and expects a 35 percent rise in sales this year.
Currently, almost 50 percent of the shops are located in the US.
To challenge the dominance of Nike in the US, Puma is all set to launch five new stores this year, introducing its high-end footwear.
"We have some key accounts in the U.S. and the rest of the world, but to really limit the risk for our brand we have to have our own stores, which we can control," said Michael Specht, Puma's Global Head of retail.
In 2005, Puma posted a profit of 286 million euros on sales of 1.78 billion euros and expects a 35 percent rise in sales this year.
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