PUMA to set up Indian arm, Middle East Hub in Dubai
27 Jul '05
2 min read
Herzogenaurach based Sport Lifestyle Company PUMA AG announces it has decided to set up a 100 percent subsidiary in India. PUMA's current licensee in India, Planet Sports, will continue to operate the business until PUMA is fully operative in January of 2006. After that Planet Sports will become a PUMA customer as well as a PUMA retail partner with the goal to jointly develop the retail infrastructure on a non-exclusive basis.
In addition PUMA is in the process of setting up a fully owned subsidiary in the Middle East, located in Dubai, which will serve as a hub coordinating our efforts across the region. PUMA Middle East should be operative and consolidating sales as of January of next year for most countries in the region.
Jochen Zeitz, CEO and Chairman of PUMA AG: “Company will see significant potential for PUMA in India in the long run which intend to fully explore in the early years of the market's development. Company thanks Planet Sports for their work as a licensee for PUMA and look forward to jointly enhancing both the companies' retail structure in near future. Their new Middle East Hub will provide us with a platform to better coordinate as well as grow their business in the entire Middle East region.”
PUMA endeavors not only to be the most desirable Sportlifestyle brand, but also to be the first truly virtual sports company.
Company will achieve their goals by continuing to do what they have always done – harnessing their resources and experiences to provide their consumers with innovative products that successfully fuse the creative influences from the world of sport, lifestyle and fashion.
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