Puma posted strong fourth-quarter earnings after a slow start to its year.
The German sportswear manufacturer increased its sales by 9.1% in Q4, bringing revenue to $1.85 billion. Earnings per share jumped to $0.19 from $0.15 last year.
Puma has prioritized broadening the brand’s reach in recent years.
In 2018, Puma named business mogul and music icon Jay-Z as its creative director and has attracted a slew of new consumers and endorsers in the time since.
Last October, Puma signed NBA rookie LaMelo Ball to a deal reportedly worth $100 million. It also has NBA players Deandre Ayton, DeMarcus Cousins, and Marcus Smart locked into deals.
In November, the company partnered with Japan-based Nintendo for a collection of “Super Mario”-inspired shoes to celebrate the game’s 35th anniversary. Puma saw sales in Asia increase by 11.5% during Q4.
Other highlights from the quarter:
- Puma athlete Lewis Hamilton won his seventh Formula 1 World Champion title.
- Neymar Jr. launched a signature Puma soccer cleat.
- Pop star Dua Lipa joined the brand as an ambassador for its women’s business.
Sales still dropped by 1.4% for the full year due to the impact of the pandemic.
“I am very happy that we managed to end a very difficult 2020 with — considering the circumstances — a good fourth quarter,” said PUMA CEO Bjørn Gulden. “I am convinced that 2021 will be a better year for us than 2020.”