Puma’s global sales fell by 1.4 per cent to €5.23 billion in 2020 due to COVID-19 in the second quarter. As per Outlook India, the brand’s gross profit margin declined to 47 per cent due to negative currency impacts and more promotional activity, partially offset by positive distribution channel and regional mix effects
Bjørn Gulden, Chief Executive Officer, Puma SE expects the negative impact to continue through the first and parts of second quarter. But, he expects to see an improvement in the second half of the year. Puma’s association with cricket and long-term association with the Indian skipper Virat Kohli helped it attain a leading position in India.
The brand continues to be in demand around the world and emphasize an increased need to focus on sports, ambassadors, influencers, collaboration partners and communication platforms. The company started its association with Kohli in 2017. It was a late entrant in 2006 and now has become the leading player in the segment. It currently operates around 370 stores in India.
