SPORTSWEAR MAKER PUMA
T20 World Cup triumph sends Indian players' valuation soaring
The commercial value of India's T20 World Cup winning team is expected to soar into billions, surpassing the IPL's brand worth. Key players like Hardik Pandya, Jasprit Bumrah, and Surya Kumar Yadav are set to see a significant increase in their market valuation.
European shares open higher on earnings-driven optimism
The pan-European STOXX 600 was up 0.3%, as of 0720 GMT, to its highest levels in more than one month
Puma signs Ibrahim Ali Khan Pataudi as brand ambassador
Puma India appoints Ibrahim Ali Khan Pataudi as ambassador, emphasizing his sports and cinema legacy. He will represent Puma in sports-inspired products, collaborate with athletes, debut in films, attend Miami Grand Prix, and contribute to the brand's revenue growth.
Exclusive: Flipkart-Zepto deal talks drop out of cart
Happy Friday! Ecommerce major Flipkart held talks with Zepto for a potential deal. More on that in today’s ETtech Morning Dispatch.
Nike shares slide 8% as switch to newer styles to squeeze revenue
The company anticipates lower sales, focusing on trendier sneakers. It aims to revive its running shoe category and launch Air Max Dn. Concerns over DTC strategy and weak North America demand persist. Nike shares have lost 16% of their value over the last 12 months.
Nike forecast cut sends sportswear stocks 12% down as spending stumbles
That sent shares of rivals Adidas and Puma down roughly 5% each, with Lululemon down 2% and Under Armour down about 6% before the bell.
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European shares fall as technology, sportswear makers slide
Personal and household goods sector lost 0.6%, as Adidas and Puma fell 6.1% and 4.4%, respectively, after U.S. peer Nike cut its annual sales forecast.
European shares edge higher on boost from upbeat earnings, miners
UniCredit climbed 1.8% as the Italian bank posted a bigger-than-expected annual rise of 36% in its third-quarter profit, helped by higher interest rates.
Puma ropes in Mohammed Shami as its brand ambassador
Puma has signed Indian fast bowler Mohammed Shami as its brand ambassador, adding to its roster of sports icons. Shami will endorse Puma's footwear, apparel, and accessories through various activities and campaigns. Puma has also created a new bowling spike with a mid-sole designed to support fast bowlers. Shami is known for his impressive track record in cricket and has been a key member of India's pace bowling unit. Puma's revenues in FY22 reached Rs 2,980 crore, surpassing Adidas, Nike, and Reebok combined.
Puma India onboards Shanaya Kapoor as its new brand ambassador
Puma India has appointed actor Shanaya Kapoor as its new brand ambassador to enhance its connection with Gen Z customers in the country. Kapoor will lead the sports brand's athleisure and performance wear and will create projects and campaigns as part of the association. Kapoor will also make her debut on multimedia messaging app Snapchat, where she will engage with audiences, sharing glimpses of her life and her partnership with Puma.
Outgoing Puma India chief racks up $52 million for new startup; Cred unit executes layoffs
Abhishek Ganguly, outgoing India and Southeast Asia managing director of Puma, has raised Rs 430 crore — around $52 million — for his new venture Agilitas Sports. This and more in today’s ETtech Top 5.
Puma India head Abhishek Ganguly’s new startup raises $52 million funding
Ganguly, who is leaving the German sports and apparel maker in August, told ET that Agilitas Sports will look to partner and invest across the sports ecosystem, from manufacturing to retail to technology.
Puma outsells rivals to log 46% rise in revenue
The retailer said increasing awareness about fitness and surging demand for athleisure wear helped the segment while increasing travel boom led to people spending more on casual wear.
CK Jaipuria Group enters into franchise deal with Adidas India
“In tier 2 and 3 markets, the Adidas stores we will set up exclusively by us,” CK Jaipuria said. The group plans to set up 100 Adidas footwear and sportswear stores by the end of 2024, he said. This will be Adidas’ biggest franchise partnership in the country.
Athleisure brands double size of stores amid rising demand
"Post Covid, brands have realised customers are coming for the full experience and expecting engagement from the brand. At our retail spaces, many athleisure brands have almost doubled presence as sales have gone up," said Pushpa Bector, executive director at DLF Retail that operates several malls in NCR. Experts said that Covid has given a big boost to consumption, specifically apparel sports and athleisure.
Inditex Trent, that runs Zara in India expands 61% during FY22
Inditex Trent, its joint venture with Tata that runs 21 of Zara stores in India, saw revenue expand to Rs1815 crore last fiscal, according to Trent’s annual report. A year ago, it had a net loss of Rs 41 crore on net sales of Rs 1,126 crore. "The incremental store openings for Zara continue to be calibrated with focus on presence only in very high-quality retail spaces," said the annual report.
Puma posts decade-high growth in India, outpaces MNC rivals in footwear, apparel and lifestyle segment
With revenues of Rs 2,044 crore during FY21, Puma surpassed footwear company Bata for the first time in sales. It also outsold sports retailer Decathlon and apparel brands Hennes & Mauritz (H&M) and Zara, according to the latest filings with the Registrar of Companies.
Brand Kohli here to stay: Myntra lauds Virat for 'doing it' in style; Puma, Audi praise his legacy
Anand Mahindra also posted a special tribute to the 'fierce' cricketer.
Porsche, Puma to join Germany's DAX as index expands
The expansion, contemplated for years, got a push in reaction to the collapse of German payments company Wirecard, which dramatically fell from grace in 2020, just two years after promotion to the benchmark index.
Puma India elevates India MD Abhishek Ganguly to General Manager- SE Asia and India
In a letter to the brand’s business partners, Bjorn Gulden, global CEO of Puma SE, announced Ganguly’s elevation in the company adding that that he will continue to work out of Puma’s India head office in Bengaluru.
India is driving Puma’s global growth: CEO
Puma operates 365 owned stores in India, and over the past three years, has signed up cricketer Virat Kohli, boxer Mary Kom, footballer Sunil Chhetri and actress Sarah Ali Khan to endorse its products.
Puma’s online business grows 15 times in the last 5 years
Puma’s association with Flipkart goes back to 2012 when sportswear maker first started business with the marketplace. It was around the same time that Flipkart too started focusing on the Fashion category.
Olympic athletes set to strike brand gold
It has been learnt that Japanese sports equipment maker Yonex is in talks with Sindhu after her contract with Chinese sporting goods maker Li-Ning ended.
Companies like Puma, Adidas and others look to score big with Euro Cup
Sony Pictures Networks (SPN) India, the official broadcaster of the tournament, has already sold around 75 per cent of its ad inventory.
Puma opens its biggest store in India at Delhi’s South Extension
Puma has about 20 Forever Fast stores across the world in cities such as Berlin, Seoul, Istanbul and Shanghai.
Under Armour, US' No. 2 sportswear brand, to enter India
A relatively new entrant in the category, Under Armour, which boasts sales of around $3 billion, has been talking to several big e-tailers in India.
Adidas emerges as India's top sports goods maker
Adidas has emerged as the top sport goods maker and one of the largest international brands in the country by revenue, surpassing direct rivals such as Puma and Nike.
Adidas to cut Reebok store base in India
Adidas has said it will shut about one-third of Reebok brand stores in India as part of a restructuring after discovering 'commercial irregularities' at the Indian unit.
S Kumars set to launch sportswear brand Ellesse Italia
S Kumars Nationwide is close to signing a five-year licensing deal with Ellesse Italia brand once endorsed by Boris Becker and Muhammad Ali.
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