Sunday December 3, 2023

Puma Doubles Its Q2 Sales

  • Puma is continuing its hot start to the year.
  • The German sportswear company reported sales in Q2 2021.
Puma/Design: Alex Brooks
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Puma is continuing its hot start to the year. The brand reported $1.87 billion in sales for Q2 2021 on Friday, a 96% year-over-year increase.

Successful product launches and growth across all regions, especially in North America, were catalysts for the big quarter.

Puma has leaned into athlete partnerships as a way to broaden the brand’s global appeal.

  • Eight-time Olympic gold medalist Usain Bolt signed a 10-year deal reportedly worth more than $23 million in 2003. The sprinter most recently signed a lifetime deal in June.  
  • PGA Tour golfer Bryson DeChambeau inked a long-term deal in 2016 with Puma’s subsidiary, Cobra Golf. The 27-year-old has a line of hats, shoes, and polo shirts.
  • NBA Rookie of the Year LaMelo Ball signed a deal reportedly worth $100 million in October. The deal also included access to a private jet. 
  • Brazilian soccer superstar Neymar inked a long-term deal in September after a 15-year, $210 million deal with Nike ended following an allegation of sexual assault. 

The company also faced a number of challenges during the quarter, including supply chain issues due to container shortages and port congestion, as well as politically driven disruption in key markets.

Despite the challenges, Puma expects full-year operating profit to reach between $472 million and $590 million. Last year, Puma reported a full-year operating profit of $246.7 million.

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