Puma has said it is “well on track” to meet full year targets during its 75th anniversary, after surging footwear demand boosted the sportswear brand’s second quarter sales to €2.1 billion (£1.9billion).
It saw good demand for football boots and running trainers, and the group 5.9% sales gain (or 11.1% on a currency adjusted basis) was driven by growth in Asia and Europe, the Middle East and Africa. That helped to offset a weaker US performance.
The German firm, known for its jumping cat logo, pointed to a host of marketing highlights during the period such as a deal producing F1 licensed products including accessories.
Meanwhile this week Manchester City’s 2023/24 third kit, designed by Puma, was unveiled in Tokyo.
Puma showed it has not been immune from headwinds, with higher freight costs, adding to more marketing, hitting the firm’s profit margin.
Chief executive Arne Freundt said: “Puma continued to grow by double-digits, demonstrating continued strong brand momentum, despite the volatile environment.”
