Puma has posted record sales and earnings following the release of preliminary results for the company’s fourth quarter and FY2021.
The German sportswear and shoe manufacturer generated $2.01 billion in sales in Q4 2021, up 14% compared to the same period the year prior. Puma’s full-year sales reached a record $7.7 billion, up from $5.8 billion in FY2020 — surpassing Wall Street estimates by over 25%.
Puma’s record financial year is the result of strong global demand for its products despite supply chain constraints and COVID, as well as staff disruptions and shutdowns in Asia.
Puma continues to lean on athlete partnerships to broaden the brand’s global reach.
- Last September, Brazilian soccer superstar Neymar inked a long-term deal after a 15-year, $210 million deal with Nike ended following an allegation of sexual assault.
- In December 2021, the company signed 19-year-old Fort Lauderdale CF forward Romeo Beckham to a long-term partnership.
- The same month, it inked a deal with 2021 UEFA Men’s Player of the Year and Chelsea midfielder Jorginho.
Puma has gained momentum on its rivals Adidas and Nike, but still faces stiff competition like Anta in key markets.
Anta, the “Nike of China,” generated record revenue of $3.5 billion for the six months ending June 30, 2021, up 56% year-over-year.