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Footwear continues to be a high point for Puma as it reported record annual sales for 2022.
The athletic apparel and footwear brand reported an 18.9% increase in revenue for the full year to $8.98 billion and a 21.1% year-over-year increase in fourth-quarter revenue to $2.33 billion.
For the three months ending Dec. 31, 2022, sales in footwear jumped 53.3%, while sales in apparel and accessories fell 1.6%. Net earnings dropped 82% in the quarter.
During the year, Puma extended its deal with AC Milan and became the official naming partner of the club’s performance center for “future talents” and its women’s team, called the “Puma House of Football.”
The company also became the official match ball provider of Serie A, starting with the 2022-23 season.
Puma aims to become a “premium sports brand” in the U.S. by selling more higher-priced soccer, basketball, and running sportswear, according to CEO Arne Freundt.
One of Puma’s eight strategic priorities continues to be “re-entry into basketball to improve our position in North America.”
Last year, Puma launched the first signature shoe for a female athlete in over a decade with WNBA player Breanna Stewart.
Sales in the Americas region for the fourth quarter jumped 29% year-over-year. Sales increased 26.1% in the EMEA region and 1.6% in the Asia/Pacific region.
