German sportswear giant Puma clocked an 11 per cent sales increase to EUR2.12bn for the second quarter, driven by strong growth in APAC, including Greater China.
By region, APAC sales surged 24 per cent to EUR413.3M, supported by a continued trend of recovery in Greater China after the market reopened.
“On the back of our second-quarter results, we are perfectly on track to achieve our full-year outlook in the transition year 2023. Puma continued to grow by double-digits, demonstrating continued strong brand momentum, despite the volatile environment. As the best partner for wholesale, we worked together with our retailers through elevated inventory levels in the market and successfully normalized our own inventory levels as planned,” said Arne Freundt, Chief Executive Officer of Puma.
“Our strategic priorities brand elevation, winning in the US and China are key for Puma’s future growth trajectory. We are making good progress on all levels and with the announcement of new leaderships for global marketing and mainland China, we have put the required organisational foundation in place.”
