Mohammad Nurul Alam
Puma together with Nike and Adidas is one of the largest sporting goods manufacturers in the world. Puma sports has the power to transform and empower people is one of the world’s leading Sports brand, it is only natural that Puma wants to stand on the same playing field as the fastest athletes on the planet. To achieve that the Puma brand is based on the very values that make an excellent athlete.
Recently the brand disclose it’s annual sales report for the year 2023 and showed a positive growth biggest accrue cement . PUMA delivered strong growth and profitability fully in line with the outlook while the whole industry was in a volatile situation.
According to the report Puma’s annual sales report shows 6.6% increased at the fourth quarter and in the full year 2023. Puma generated a global revenue of approximately 8.6 billion euros in the year 2023.
Gross profit margin improves by 20 basis points to 46.3% due to favourable pricing, geographical and channel mix effects, despite significant currency headwinds but Adverse currencies lead to a negative impact on sales of more than € 400 million.
In the Asia/Pacific region the sales growth was strongest closely followed by the EMEA region.But sales in the American region fell due to negative impact because of extraordinary devaluation of the Argentine peso in the end of the year 2023.
To achieve long-term, sustainable growth across all regions and product categories Puma sharpened its strategy in the year 2023 . Tehy also change policy to drive brand elevation, increase product excellence and distribution of quality.
This is a strong underlying performance of PUMA in the business because of uniqueness of product and effective sales policy.
Puma set a sustainable long-term growth in the USA and China with new management teams in the US and China to implement local must-win strategies. As a result of all of these initiatives, PUMA is in a better position at the start of 2024 as they were at the beginning of 2023.
Puma aimed that 2024 will be a Year of Sport with major events such as the Olympic Games, Euro 2024 and the Copa America. These great event will provide the perfect platform to showcase Puma’s sportswear with strong product innovation and credibility of performance brand.
The strategy of Puma for the financial year 2024 is an operating result (EBIT) in the range of € 620 million to € 700 million . So tje brand expects to achieve mid-single-digit currency-adjusted sales growth.
PUMA’s strong product innovations for football boots as FUTURE, ULTRA and KING deliver significant market share and gains globally widerrange acceptance. Their innovation in Football attracted world-class players to grab the PUMA’s family brand such as Kai Havertz, Jack Grealish, Xavi Simons, Alex Greenwood, Cody Gakpo and Daniel Carvajal.
The sport brand has great sustainability earth saving plans that their 8 products out of 10 PUM made with recycled or certified materials from 2023. The brand planes to make all football jerseys from recycled textile waste with RE:FIBRE
The strategy brought the big sale and profit in 2023 that Puma align its marketing strategies and product engine alongwith established Consumer Insights Team across the organization to inform and gain a deeper understanding of its consumers.
