PUMA expects India to be among its top 5 markets by 2020.

PUMA which is a German sports brand will expect India to be in its top 5 markets within 3 years. The article speaks about how the brand PUMA have adapted itself to the cultural changes in consumers lifestyle.
  • In the first interview to Indian media, PUMA CEO  Bjorn Gulden said the ‘Athleisure’ trend of combining sports wear with street style was working well in Asia’s 3rd largest economy.
  • In 2016 it was the 8th largest market and expected to be 3rd by 2020.
  • The revenue for PUMA was $145 million in the last calendar and became the largest sports lifestyle brand in the country.
  • The other leading markets for PUMA include US, China, Japan& Korea.
  • Celebraties like Rihanna , Kylie Jenner, Usain Bolt are endorsing the brand since the sneaker culture become the mainstream.
  • PUMA being the sports brand it has changed its image from sportswear to a fashion brand. People also use sneakers and sportswear as a style.
  • Using this trend PUMA is trying to stay in the trend of ‘Athleisure’.
  • Being a sports brand its has adapted itself according to youth, consumer needs and the culture.
  • Apart from endorsing the brands with start icons PUMA also has friendly social media strategy which is keeping up its sales.
  • Being one of the most demanded brand in India PUMA is not mainly focused on the products they sell but they focus on the consumer needs and fashion of what the consumer is looking for.
  • They have shown their presence in the online shopping sites like Amazon and Flipkart.
  • They have maintained their balance with their own brand stores and also working with franchise partners.
  • Increase in sales revenue and PUMA expecting India to be in its top 5 markets are the consequences of the above strategies.
Source: http://bit.ly/2weAyuY

 

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