Interviews
PUMA announces string of new ventures
27 Jul '05
4 min read
Katsuyuki Tanabe, President and CEO of Hit Union: “Over the past years, PUMA apparel has become one of the leading brands in the Japanese market. Now with this joint venture partnership they look forward to being able to further accelerate our growth and desirability throughout Japan.”
PUMA & Swire Pacific JV in HK & China
The Sportlifestyle company PUMA AG announces it has signed a shareholders' agreement with its current licensee, Hong Kong-based Swire Pacific covering the Hong Kong and China markets. Based on an early termination of the existing long-term license agreement, the joint venture will become effective on January 1st 2006, with PUMA as the majority shareholder.
The aim of this partnership is to jointly explore the tremendous potential of the PUMA brand with its high brand awareness in the critical China market as well as to further enhance its already solid position in Hong Kong.
Jochen Zeitz, CEO and Chairman of PUMA AG: “Swire Pacific has successfully gained initial traction for PUMA in its markets and they possess very valuable market know-how that, combined with their knowledge, will allow us to further accelerate their rapid expansion in this highly important area. Their goal is to at least quadruple sales in the next 5 years and to firmly establish PUMA in the top 3 of the industry's global brands in China.”
Christopher Pratt, Executive Director of Swire Pacific's Trading and Industrial Division: “This isa very exciting development. PUMA is a leading edge Sportlifestyle brand which has seen remarkable global growth in the past years. The new venture has set ambitious targets for growth in the China market in the coming years and I have every confidence they will be achieved.”
PUMA & Swire Pacific JV in HK & China
The Sportlifestyle company PUMA AG announces it has signed a shareholders' agreement with its current licensee, Hong Kong-based Swire Pacific covering the Hong Kong and China markets. Based on an early termination of the existing long-term license agreement, the joint venture will become effective on January 1st 2006, with PUMA as the majority shareholder.
The aim of this partnership is to jointly explore the tremendous potential of the PUMA brand with its high brand awareness in the critical China market as well as to further enhance its already solid position in Hong Kong.
Jochen Zeitz, CEO and Chairman of PUMA AG: “Swire Pacific has successfully gained initial traction for PUMA in its markets and they possess very valuable market know-how that, combined with their knowledge, will allow us to further accelerate their rapid expansion in this highly important area. Their goal is to at least quadruple sales in the next 5 years and to firmly establish PUMA in the top 3 of the industry's global brands in China.”
Christopher Pratt, Executive Director of Swire Pacific's Trading and Industrial Division: “This isa very exciting development. PUMA is a leading edge Sportlifestyle brand which has seen remarkable global growth in the past years. The new venture has set ambitious targets for growth in the China market in the coming years and I have every confidence they will be achieved.”
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