Puma (brand)
{{short description|German clothing and consumer goods manufacturer}}
{{distinguish|Puma Energy}}
{{Use dmy dates|date=October 2020}}
{{Infobox company
| name = Puma SE
| logo = File:Puma complete logo.svg
| logo_size = 180
| image = Zeppelinstraße 2 Herzogenaurach 03.JPG
| image_size = 250
| image_caption = World headquarters in Herzogenaurach
| traded_as = {{Ubl|{{FWB|PUM}}|MDAX Component}}
| founder = Rudolf Dassler
| area_served = Worldwide
| key_people = {{Ubl|Arne Freundt (CEO)|Markus Neubrand (CFO)|Maria Valdes (CPO)|Héloïse Temple-Boyer (chair)}}
| industry = {{Ubl|Textile|Footwear}}
| products = {{Ubl|Sportswear |Footwear |Sports equipment |Apparel |Accessories}}
| revenue = {{increase}} {{€|8.601 billion|link=yes}}
| revenue_year = 2023
| operating_income = {{decrease}} {{€|621 million}}
| income_year = 2023
| net_income = {{decrease}} {{€|304.9 million}}
| net_income_year = 2023
| assets = {{decrease}} {{€|6.640 billion}}
| assets_year = 2023
| equity = {{increase}} {{€|2.582 billion}}
| equity_year = 2023
| owners = {{Ubl|Artémis (30%)|T. Rowe Price (5%)|Black Rock (4%)}}
| num_employees = {{increase}}18,681
| num_employees_year = 2023
| subsid = {{Ubl|Cobra Golf|stichd{{cite web |author=Nina Nix, Chief Executive Officer of stichd |url=https://www.puma-catchup.com/stepping-out-of-the-shadows-our-proud-new-brand-stichd/ |title=Stepping out of the shadows: our proud new brand stichd |publisher=PUMA CATch up |date=2019-07-02 |accessdate=2022-02-26 |archive-date=13 February 2022 |archive-url=https://web.archive.org/web/20220213191827/https://www.puma-catchup.com/stepping-out-of-the-shadows-our-proud-new-brand-stichd/ |url-status=live }}|Fuel for Fans}}
| predecessor = Split from Dassler Brothers Shoe Factory
| foundation = {{start date and age|1948}}
| location = Herzogenaurach, Bavaria, Germany
| homepage = {{url|https://eu.puma.com/|puma.com}}
| footnotes = {{cite web|url=https://about.puma.com/en/investor-relations/financial-reports|title=Puma Annual Report 2022|access-date=5 December 2022|archive-date=3 October 2022|archive-url=https://web.archive.org/web/20221003123301/https://about.puma.com/en/investor-relations/financial-reports|url-status=live}}{{cite web |url=http://www.kering.com/en/finance/distribution-puma |title=Kering Finance Puma |access-date=20 June 2018 |archive-date=24 December 2018 |archive-url=https://web.archive.org/web/20181224200722/http://www.kering.com/en/finance/distribution-puma |url-status=dead }}[https://craft.co/puma Puma company profile] {{Webarchive|url=https://web.archive.org/web/20201029163705/https://craft.co/puma |date=29 October 2020 }} craft.co. Retrieved 5 September 2021{{cite web|url=https://about.puma.com/en/investor-relations/share|title=Puma Share|access-date=30 October 2024}}{{cite web|url=https://annual-report.puma.com/2023/en/|title=Puma Annual Result 2023|access-date=30 October 2024}}
}}
Puma SE is a German multinational corporation which designs and manufactures athletic and casual footwear, apparel, and accessories, headquartered in Herzogenaurach, Bavaria, Germany. Puma is the third largest sportswear manufacturer in the world. The company was founded in 1948 by Rudolf Dassler (1898–1974). In 1924, Rudolf and his brother Adolf "Adi" Dassler had jointly formed the company {{lang|de|Gebrüder Dassler Schuhfabrik}} ('Dassler Brothers Shoe Factory'). The relationship between the two brothers deteriorated until they agreed to split in 1948, forming two separate entities, Adidas and Puma. Following the split, Rudolf originally registered the newly established company as Ruda (derived from Rudolf Dassler, as Adidas was based on Adi Dassler), but later changed the name to Puma. Puma's earliest logo consisted of a square and beast jumping through a D, which was registered, along with the company's name, in 1948. Puma's shoe and clothing designs feature the Puma logo and the distinctive "Formstrip" which was introduced in 1958.{{sfn|Smit|2009|p=33}}
History
=Background=
Christoph Dassler was a worker in a shoe factory, while his wife Pauline ran a small laundry in the Franconian town of Herzogenaurach, {{convert|20|km|mi||abbr=on|sigfig=3}} from the city of Nuremberg. After leaving school, their son, Rudolf Dassler, joined his father at the shoe factory. When he returned from fighting in World War I, Rudolf was trained as a salesman at a porcelain factory, and later in a leather trading business in Nuremberg.{{cite web|url = http://www.newsweek.com/history-adidas-and-puma-86373|title = The History of Adidas and Puma|website = Newsweek|date = 13 April 2008|access-date = 1 September 2015|archive-date = 17 August 2015|archive-url = https://web.archive.org/web/20150817061824/http://www.newsweek.com/history-adidas-and-puma-86373|url-status = live}}
In July 1924, Rudolf and his younger brother, Adolf, nicknamed "Adi", founded a shoe factory. They named the new business "Gebrüder Dassler Schuhfabrik" (Dassler Brothers Shoe Factory) which was the only business at the time that manufactured sports shoes.{{sfn|Smit|2009|p=6}} The pair started their venture in their mother's laundry. At the time, electricity supplies in the town were unreliable, and the brothers sometimes had to use pedal power from a stationary bicycle to run their equipment.{{cite web|title = The Town that Sibling Rivalry Built, and Divided|publisher = Deutsche Welle – dw-world.de|date = 7 March 2006|url = http://www.dw.com/en/the-town-that-sibling-rivalry-built-and-divided/a-2074427|access-date = 6 November 2010|archive-date = 16 July 2015|archive-url = https://web.archive.org/web/20150716150435/http://www.dw.com/en/the-town-that-sibling-rivalry-built-and-divided/a-2074427|url-status = live}} In 1927, they moved into a separate building.
The brothers drove from Bavaria to the 1936 Summer Olympics in Berlin with a suitcase full of spikes and persuaded United States sprinter Jesse Owens to use them, the first sponsorship for an African American. Owens won four gold medals. Business boomed; the Dasslers were selling 200,000 pairs of shoes annually before World War II.{{cite web |last=Kirschbaum |first=Erik |date=2005-11-08 |url=http://in.rediff.com/sports/2005/nov/08adi.htm |title=How Adidas and Puma were born |publisher=The Journal |access-date=2008-07-14 |archive-url=https://web.archive.org/web/20080117230846/http://in.rediff.com/sports/2005/nov/08adi.htm |archive-date=17 January 2008 |url-status=dead}}
Both brothers joined the Nazi Party, but Rudolf was a keen Nazi, who applied to join, and was accepted into the Gestapo; they produced boots for the Wehrmacht.{{Cite web |first1=Von Robert |last1=Kuhn |first2=Thomas |last2=Thiel |title=Shoes and Nazi Bazookas – The Prehistory of Adidas and Puma |url=https://www.spiegel.de/international/germany/shoes-and-nazi-bazookas-the-prehistory-of-adidas-and-puma-a-611400.html |publisher=Spiegel Gruppe |website=Der Spiegel |translator=Paul Cohen |date=3 April 2009 |access-date=4 January 2020 |archive-date=5 August 2019 |archive-url=https://web.archive.org/web/20190805092644/https://www.spiegel.de/international/germany/shoes-and-nazi-bazookas-the-prehistory-of-adidas-and-puma-a-611400.html |url-status=live }}{{Cite web |last=Aneculaesei |first=Calin |title=The Nazi Origins of Adidas and Puma |url=https://historyofyesterday.com/the-nazi-origins-of-adidas-and-puma/ |website=History of Yesterday |date=8 September 2022 |access-date=8 September 2022 |archive-date=8 September 2022 |archive-url=https://web.archive.org/web/20220908142633/https://historyofyesterday.com/the-nazi-origins-of-adidas-and-puma/ |url-status=live }} A growing rift between the brothers reached a breaking point during a 1943 Allied bomb attack. Adi and his wife climbed into a bomb shelter that Rudolf and his family were already in. "Here are the bloody bastards again," Adi remarked, apparently referring to the Allied warplanes, but Rudolf, due to his apparent insecurity, was convinced his brother meant him and his family.{{sfn|Smit|2009|p=18}} When Rudolf was later picked up by American soldiers and accused of being a member of the Waffen SS, he was convinced that his brother had turned him in.
= Split and creation of Puma =
After increasingly different views of how to run the business, the brothers split the business in 1948. Rudolf moved to the other side of the Aurach River to start his own company. Adolf started his own company using a name he formed using his nickname—Adi—and the first three letters of his last name—Das—to establish Adidas. Rudolf created a new firm that he called "Ruda", from "Ru" in Rudolf and "Da" in Dassler. A few months later, Rudolf's company changed its name to Puma Schuhfabrik Rudolf Dassler.{{sfn|Smit|2009|p=31}}
Puma and Adidas entered a fierce and bitter rivalry after the split. The town of Herzogenaurach was divided on the issue, leading to the nickname "the town of bent necks"—people looked down to see which shoes strangers wore.
In the first football match after World War II in 1948, several members of the West Germany national football team wore Puma boots, including the scorer of West Germany's first post-war goal, Herbert Burdenski.{{Cite book |last=Thomas |first=Rob |url=https://books.google.com/books?id=Kt8WBgAAQBAJ&pg=PA182 |title=Big Data Revolution: What Farmers, Doctors and Insurance Agents Teach Us About Discovering Big Data Patterns |publisher=John Wiley & Sons |others=Patrick McSharry |year=2015 |isbn=978-1-118-94373-1 |location=Chichester |page=182 |oclc=899739038 |access-date=3 February 2023 |archive-date=3 February 2023 |archive-url=https://web.archive.org/web/20230203041512/https://books.google.com/books?id=Kt8WBgAAQBAJ&pg=PA182 |url-status=live }} Rudolf developed a football boot with screw-in studs, called the "Super Atom" in collaboration with people such as West Germany's national coach Sepp Herberger.{{Cite web |last=Furness |first=Joseph |date=12 May 2022 |title=The best Puma shoes you can buy right now |url=https://www.gq-magazine.co.uk/fashion/gallery/best-puma-shoes |access-date=2023-03-18 |website=British GQ |language=en-GB |archive-date=18 March 2023 |archive-url=https://web.archive.org/web/20230318190714/https://www.gq-magazine.co.uk/fashion/gallery/best-puma-shoes |url-status=live }}
= Olympic presence, World Cup, and the Pelé Pact =
File:John Carlos, Tommie Smith, Peter Norman 1968cr.jpg (center) and bronze medalist John Carlos (right) showing the raised fist at the 1968 Summer Olympics]]
At the 1952 Summer Olympics, 1500 metres runner Josy Barthel of Luxembourg won Puma's first Olympic gold in Helsinki, Finland.
At the 1960 Summer Olympics, Puma paid German sprinter Armin Hary to wear Pumas in the 100-metre sprint final. Hary had previously worn Adidas products and approached Adolf for compensation. However, Adidas declined the request. Despite winning a gold medal in Pumas, Hary chose to wear Adidas during the medals ceremony, surprising the two Dassler brothers. Hary seemingly aimed to benefit financially from both brands, but Adolf was infuriated to the extent of banning the Olympic champion.
During the 1968 Olympics Black Power Salute, Puma-sponsored African-American athletes Tommie Smith and John Carlos, after having won gold and bronze in the 200 meters, respectively, took to the podium with their Puma Suede shoes in hand and bowed their heads and raised their black-gloved fists in silent protest during the playing of the national anthem, an act meant to stand up for human rights and to stand up for black Americans.{{Cite news|url=https://www.complex.com/sneakers/2016/01/puma-black-history-month-pack-commemorating-tommie-smith|title=Puma Pays Homage to Tommie Smith and the Black Power Salute in New "BHM" Collection|publisher=complex|access-date=2016-01-29|date=27 January 2016|archive-date=8 September 2018|archive-url=https://web.archive.org/web/20180908202700/https://www.complex.com/sneakers/2016/01/puma-black-history-month-pack-commemorating-tommie-smith|url-status=live}}
A few months prior to the 1970 FIFA World Cup, Armin Dassler (Rudolf's son) of Puma and his cousin Horst Dassler (Adi's son) of Adidas sealed an agreement which was dubbed "The Pelé Pact".{{sfn|Smit|2009|p=82}} This agreement dictated that Pelé would be out of bounds for both Adidas and Puma, feeling that a bidding war for the most famous athlete in the world would become too expensive, only for Puma to break the pact and sign him.{{cite news |title=Was Pele paid to tie his shoes during the 1970 World Cup final? |url=https://www.latimes.com/sports/la-xpm-2012-oct-15-la-sp-sn-pele-shoes-world-cup-20121015-story.html |access-date=13 September 2023 |work=Los Angeles Times |archive-date=15 September 2023 |archive-url=https://web.archive.org/web/20230915030254/https://www.latimes.com/sports/la-xpm-2012-oct-15-la-sp-sn-pele-shoes-world-cup-20121015-story.html |url-status=live }}
In addition to paying Pelé a percentage of Puma King boot sales, Puma paid him $120,000 ($2.85 million in 2022) to tie his laces prior to Brazil's quarter-final game against Peru to advertise their boots.{{cite book |last1=Jaskulka |first1=Marie |title=Puma |date=2022 |publisher=ABDO |pages=38–40}}{{cite news |title=Marriages, music, endorsements: Pele's life away from the field |url=https://www.france24.com/en/live-news/20221230-marriages-music-endorsements-pele-s-life-away-from-the-field |access-date=13 September 2023 |work=France24 |archive-date=15 September 2023 |archive-url=https://web.archive.org/web/20230915030254/https://www.france24.com/en/live-news/20221230-marriages-music-endorsements-pele-s-life-away-from-the-field |url-status=live }} An idea conceived by Puma's representative Hans Henningsen, Pelé stopped the referee from starting the game with a last-second request to tie his shoelaces, and with the camera panning in on Pelé, the Puma King boots were broadcast to a global audience, generating enormous publicity for the brand.{{cite news |title=One of the Greatest Marketing Plays of All Time Was a Pair of Untied Pumas |url=https://mrcodella.medium.com/one-of-the-greatest-marketing-plays-of-all-time-was-a-pair-of-untied-pumas-9f5727efdca0 |access-date=13 September 2023 |work=Medium |archive-date=15 September 2023 |archive-url=https://web.archive.org/web/20230915030256/https://mrcodella.medium.com/one-of-the-greatest-marketing-plays-of-all-time-was-a-pair-of-untied-pumas-9f5727efdca0 |url-status=live }}
The most notable event in the Dassler brothers feud, the breaking of the "Pelé Pact" outraged Horst, and future peace agreements were called off.{{sfn|Smit|2009|p=82}} The Puma deal for Pelé was praised as a shrewd marketing move, and many business experts credit the rivalry and competition between the two companies for transforming sports apparel into a highly lucrative industry.
During the 1972 Summer Olympics, Puma provided shoes for the Ugandan 400 metres hurdles champion, John Akii-Bua. After Akii-Bua was forced out of Uganda by its military government, Puma employed him in Germany. Eventually, Akii-Bua returned to Uganda.{{cite web|url=http://speedendurance.com/2014/11/07/the-john-akii-bua-story-an-african-tragedy/|title=The John Akii Bua Story: An African Tragedy|website=SpeedEndurance.com|date=7 November 2014|access-date=2015-09-03|archive-date=12 June 2015|archive-url=https://web.archive.org/web/20150612140157/http://speedendurance.com/2014/11/07/the-john-akii-bua-story-an-african-tragedy/|url-status=live}}
Puma launched the Puma Clyde in 1973, a basketball shoe based on the Suede. Designed for basketball player Walt "Clyde" Frazier, it gained wide popularity and became significant in the old school hip hop and skate punk subcultures.{{Cite web |last=Rowland |first=Sarah |date=28 February 2007 |title=Old-school style drives historical Puma forward |url=https://www.straight.com/article-72958/old-school-style-drives-historical-puma-forward |access-date=2023-05-15 |website=The Georgia Straight |archive-date=15 May 2023 |archive-url=https://web.archive.org/web/20230515234301/https://www.straight.com/article-72958/old-school-style-drives-historical-puma-forward |url-status=live }}{{cite web|title = 20 Sneakers That Have Lived Double Lives – Puma Clyde|website = Complex Networks|url = http://www.complex.com/sneakers/2013/10/sneakers-that-live-double-lives/clyde|access-date = 2015-09-03|archive-date = 17 August 2018|archive-url = https://web.archive.org/web/20180817060139/https://www.complex.com/sneakers/2013/10/sneakers-that-live-double-lives/clyde|url-status = live}}
= Going public =
Puma became a public company in 1986,{{Cite book|title = Historical Dictionary of Track and Field|url = https://books.google.com/books?id=kh97OBEUTn4C|publisher = Scarecrow Press|date = 2012-03-22|isbn = 9780810879850|first = Peter|last = Matthews}} and thereafter was listed on the Börse München and Frankfurt Stock Exchange; its first profit since the IPO was registered in 1994.{{Cite news|title = Focusing on Armchair Athletes, Puma Becomes a Leader|url = https://www.nytimes.com/2004/03/12/business/focusing-on-armchair-athletes-puma-becomes-a-leader.html|newspaper = The New York Times|date = 2004-03-12|access-date = 2015-09-03|issn = 0362-4331|first = Kevin J.|last = O'brien|archive-date = 9 September 2017|archive-url = https://web.archive.org/web/20170909152905/http://www.nytimes.com/2004/03/12/business/focusing-on-armchair-athletes-puma-becomes-a-leader.html|url-status = live}} In May 1989, Rudolf's sons Armin and Gerd Dassler sold their 72 percent stake in Puma to Swiss business Cosa Liebermann SA.{{Cite book|title = Big Data Revolution: What Farmers, Doctors, and Insurance Agents Can Teach Us about Patterns in Big Data|url = https://books.google.com/books?id=Kt8WBgAAQBAJ|publisher = John Wiley & Sons|date = 2015-01-07|isbn = 9781118943717|first = Rob|last = Thomas}} The company acquired Scandinavian Tretorn Group in 2001, later sold to Authentic Brands Group in 2015.{{cite web|url = http://fashionista.com/2015/06/tretorn-acquired-authentic-brands-group|title = tretorn-acquired-authentic-brands-group| date=30 June 2015 |access-date = 1 September 2015}} For the fiscal year 2003, the company had revenue of €1.274 billion, and majority shareholder Monarchy/Regency sold its shareholdings to a broad base of institutional investors.{{cite web|title = Monarchy Regency sells its stake in Puma – New Europe|url = http://www.neurope.eu/article/monarchy-regency-sells-its-stake-puma/|access-date = 2015-09-03}}
In February 2007, Puma reported that its profits had fallen by 26% to €32.8 million ($43 million; £22 million) during the final three months of 2006. Most of the decline in profits was due to higher costs linked to its expansion; sales rose by more than a third to €480.6 million.{{cite news|url=http://news.bbc.co.uk/1/hi/business/6375175.stm|title=Puma sees sharp fall in profit|date=19 February 2007|work=BBC News|access-date=22 May 2010|archive-date=20 March 2008|archive-url=https://web.archive.org/web/20080320202131/http://news.bbc.co.uk/1/hi/business/6375175.stm|url-status=live}} In early April, Puma's shares rose €29.25 per share, or about 10.2%, to €315.24 per share.{{cite news|url=http://news.bbc.co.uk/1/hi/business/6530423.stm|title=Puma's shares surge on bid rumour|date=5 April 2007|work=BBC News|access-date=22 May 2010|archive-date=17 September 2007|archive-url=https://web.archive.org/web/20070917061349/http://news.bbc.co.uk/1/hi/business/6530423.stm|url-status=live}} On 10 April, the French conglomerate PPR (which became Kering in 2013) announced that it had bought a 27% stake in Puma, clearing the way for a full takeover. The deal valued Puma at €5.3 billion. PPR said that it would launch a friendly takeover of Puma, worth €330 a share, once the acquisition of the smaller stake was completed. The board of Puma welcomed the move, saying it was fair and in the firm's best interests. As of July 2007, PPR owned over 60% of Puma stock.{{cite news|url=http://news.bbc.co.uk/1/hi/business/6540391.stm|title=Gucci-firm PPR buys stake in Puma|date=10 April 2007|work=BBC News|access-date=22 May 2010|archive-date=9 February 2008|archive-url=https://web.archive.org/web/20080209212116/http://news.bbc.co.uk/1/hi/business/6540391.stm|url-status=live}}
In 2008, Melody Harris-Jensbach was appointed deputy chief executive officer; designer and artist Hussein Chalayan became creative director,{{cite web|title = Jack Wolfskin Appoints Melody Harris-Jensbach Chief Executive|url = http://snowindustrynews.com/articles/jack-wolfskin-appoints-melody-harris-jensbach-chief-executive/|website = Snow Industry News|access-date = 2015-09-03|url-status = dead|archive-url = https://web.archive.org/web/20141229031037/http://www.snowindustrynews.com/articles/jack-wolfskin-appoints-melody-harris-jensbach-chief-executive|archive-date = 29 December 2014}} and Puma acquired a majority stake in Chalayan's fashion business.{{cite web|title = Hussein Chalayan Appointed Creative Director of Puma|url = http://www.adweek.com/fishbowlny/hussein-chalayan-appointed-creative-director-of-puma/276059|website = Adweek| date=3 March 2008 |access-date = 2015-09-03|archive-date = 5 October 2016|archive-url = https://web.archive.org/web/20161005080155/http://www.adweek.com/fishbowlny/hussein-chalayan-appointed-creative-director-of-puma/276059|url-status = live}}
= 2010 onward =
File:Orange Puma Street Yaam.JPG
In 2010, Puma acquired Cobra Golf, and took over bodywear and socks company Dobotex the following year.{{Cite news |date=2010-03-10 |title=UPDATE 2-Fortune Brands selling Cobra golf line to Puma |work=Reuters |url=https://www.reuters.com/article/fortune-idUSN1012872620100310 |access-date=2022-11-01 |archive-date=1 November 2022 |archive-url=https://web.archive.org/web/20221101134212/https://www.reuters.com/article/fortune-idUSN1012872620100310 |url-status=live }}{{Cite news |date=2011-05-20 |title=UPDATE 1-Puma kicks off shopping tour with sock licensee |work=Reuters |url=https://www.reuters.com/article/puma-idUKLDE74J0NH20110520 |access-date=2022-11-05 |archive-date=5 November 2022 |archive-url=https://web.archive.org/web/20221105214735/https://www.reuters.com/article/puma-idUKLDE74J0NH20110520 |url-status=live }} In July 2011, the company completed a conversion from an {{lang|de|Aktiengesellschaft}} (German public limited company) to a {{lang|la|Societas Europaea}}, the European Union-wide equivalent, changing its name from Puma AG Rudolf Dassler Sport to Puma SE.{{cite news|url=http://www.focus.de/finanzen/finanz-news/puma-koch-ist-neuer-puma-chef_aid_649072.html|title=Koch ist neuer Puma-Chef|date=25 July 2011|newspaper=Focus|language=de|access-date=3 August 2011|archive-date=15 October 2012|archive-url=https://web.archive.org/web/20121015003808/http://www.focus.de/finanzen/finanz-news/puma-koch-ist-neuer-puma-chef_aid_649072.html|url-status=live}} At the same time, {{ill|Franz Koch (businessman)|lt=Franz Koch|de|Franz Koch (Manager)}} replaced the long-serving Jochen Zeitz as the firm's chief executive officer (CEO), with Zeitz becoming chairman.{{Cite news |last=Passariello |first=Christina |date=March 15, 2011 |title=Puma Names New CEO |newspaper=The Wall Street Journal |url=https://www.wsj.com/articles/SB10001424052748704893604576200452302421790 |access-date=2015-09-03 |issn=0099-9660 |archive-date=5 October 2016 |archive-url=https://web.archive.org/web/20161005071024/http://www.wsj.com/articles/SB10001424052748704893604576200452302421790 |url-status=live }} The company has been led by former football professional Bjørn Gulden since 1 July 2013. Arne Freundt was appointed CEO in November 2022.{{Cite news |last=((Reuters)) |date=2022-11-04 |title=Puma CEO Gulden set to become new Adidas head -source |work=Reuters |url=https://www.reuters.com/business/retail-consumer/puma-ceo-gulden-set-become-new-adidas-ceo-manager-magazin-2022-11-04/ |access-date=2022-11-05 |archive-date=5 November 2022 |archive-url=https://web.archive.org/web/20221105214735/https://www.reuters.com/business/retail-consumer/puma-ceo-gulden-set-become-new-adidas-ceo-manager-magazin-2022-11-04/ |url-status=live }}
Since 2018, the Boycott, Divestment and Sanctions (BDS) movement has called for a boycott of Puma over its sponsorship of the Israel Football Association and demanded that the company "end complicity with the Israeli colonial and apartheid regime." The BDS campaign also stated that Puma contracted with an Israeli distributor operating in illegal Israeli settlements in the West Bank.{{cite news |url=https://www.middleeastmonitor.com/20220213-bds-calls-for-puma-boycott-over-israeli-football-sponsorship/ |title=BDS calls for Puma boycott over Israeli football sponsorship |publisher=Middle East Monitor |access-date=9 November 2023 |archive-date=9 November 2023 |archive-url=https://web.archive.org/web/20231109095545/https://www.middleeastmonitor.com/20220213-bds-calls-for-puma-boycott-over-israeli-football-sponsorship/ |url-status=live }} Puma will end its sponsorship of the Israel national football team in 2024.{{cite news |url=https://www.spiegel.de/wirtschaft/unternehmen/fussball-puma-beendet-sponsoring-von-israels-nationalmannschaft-a-c473ecca-25cb-4bb5-bf62-f4424093f91d |title=Puma beendet im kommenden Jahr (2024) sein Sponsoring der israelischen Fußballnationalmannschaft |publisher=spiegel.de |language=de |date=12 December 2023 |access-date=13 December 2023 |archive-date=13 December 2023 |archive-url=https://web.archive.org/web/20231213154404/https://www.spiegel.de/wirtschaft/unternehmen/fussball-puma-beendet-sponsoring-von-israels-nationalmannschaft-a-c473ecca-25cb-4bb5-bf62-f4424093f91d |url-status=live }}{{Cite web |title=Puma to end sponsorship of Israel's national football team in 2024 |url=https://www.aljazeera.com/news/2023/12/12/puma-to-end-sponsorship-of-israels-national-football-team-in-2024 |access-date=2024-08-07 |website=Al Jazeera |language=en}}
Finances
Puma has been a public company since 1986, listed on the Frankfurt Stock Exchange. French luxury group Kering (formerly known as PPR) holds 9.8%, Kering's largest shareholder Groupe Artemis owns 29% of the share capital.{{cite web|url=http://about.puma.com/en/newsroom/corporate-news/2018/january/PUMA-welcomes-planned-Change-in-Ownership-Structure|title=Puma welcomes planned Change in Ownership Structure|website=about.puma.com|language=en|access-date=2018-06-06|archive-date=28 May 2018|archive-url=https://web.archive.org/web/20180528012045/http://about.puma.com/en/newsroom/corporate-news/2018/january/PUMA-welcomes-planned-Change-in-Ownership-Structure|url-status=live}}
Puma ranks as one of the top shoe brands with Adidas and Nike,{{Cite web |last=Maguire |first=Lucy |title=CEO Bjørn Gulden on the big Puma comeback |url=https://www.voguebusiness.com/companies/ceo-bjorn-gulden-on-the-big-puma-comeback |archive-url=https://web.archive.org/web/20220207075923/https://www.voguebusiness.com/companies/ceo-bjorn-gulden-on-the-big-puma-comeback |archive-date=2022-02-07 |access-date=2022-06-15 |website=Vogue Business |date=7 February 2022 |language=en-GB}} and employs more than 18,000 people worldwide. The company has corporate offices around the world, including four defined as "central hubs": Assembly Row, Somerville, Massachusetts;{{Cite web |url=https://www.bostonglobe.com/business/2019/01/17/puma-moving-its-headquarters-assemby-row/pEQhXpgGkQTkLba5UfBD5O/story.html |title=Puma is moving its headquarters to Assembly Row |website=The Boston Globe |access-date=1 February 2019 |archive-date=2 February 2019 |archive-url=https://web.archive.org/web/20190202095153/https://www.bostonglobe.com/business/2019/01/17/puma-moving-its-headquarters-assemby-row/pEQhXpgGkQTkLba5UfBD5O/story.html |url-status=live }} Hong Kong; Ho Chi Minh City, Vietnam; and global headquarters in Herzogenaurach, Germany.{{cite web |url=https://about.puma.com/en/careers/locations |title=Puma Locations |access-date=1 February 2019 |archive-date=2 February 2019 |archive-url=https://web.archive.org/web/20190202042029/https://about.puma.com/en/careers/locations |url-status=live }}
class="wikitable"
!Year !2013 !2014 !2015 !2016 !2017 !2018 !2019 !2020 !2021 !2022 !2023 |
Revenue
|2,985 |2,972 |3,387 |3,627 |4,136 |4,648 |5,502 |5,234 |6,805 |8,465 |8,601 |
Net Income
|5 |64 |37 |62 |136 |187 |262 |79 |310 |353 |304.9 |
Assets
|2,309 |2,550 |2,620 |2,765 |2,854 |3,207 |4,378 |4,684 |5,728 |6,772 |6,640 |
Employees
|10,750 |10,830 |11,351 |11,495 |11,787 |12,894 |14,332 |14,374 |16,125 |18,071 |18,681 |
Puma utilizes social media marketing activities (SMMA) to leverage customer purchases in Indonesia and boost brand awareness, brand image, and brand equity. Purchase intention was significantly influenced by brand awareness caused by SMMA. When consumers are more aware of Puma and have a positive image of the brand, they are more likely to purchase its products. Puma's social media marketing strategies have a direct effect on purchase intentions, which is a leading indicator of actual sales, especially in the middle class.{{cite journal
| last = Rolando
| first = Benediktus
| title = Social Media Marketing's Effect on Purchase Intentions for Puma: Mediation by Brand Image, Awareness, and Equity
| journal = Journal of Business and Economics Research
| volume = 5
| issue = 3
| pages = 340–351
| year = 2024
| doi = 10.47065/jbe.v5i3.5598
| doi-broken-date = 10 January 2025
| url = https://ejurnal.seminar-id.com/index.php/jbe}}{{cite journal
| last = Raissa
| first = Adina
| title = Analysis of Sports Brand Positioning Based on Consumer Perceptions
| journal = Journal of Business, Management and Accounting
| volume = 5
| issue = 2
| pages = 972–983
| year = 2024
| doi = 10.31539/budgeting.v5i2.9635
| url = https://journal.ipm2kpe.or.id/index.php/BUDGETING/article/view/9635}}
Through supply chain finance, Puma helps suppliers avoid cash flow issues by offering early payment on invoices, reducing costs and risk. The company uses the Infor Nexus digital platform to streamline the process, connecting buyers, suppliers, and banks. This platform enables fast, electronic payment and provides transparency, reducing manual work for suppliers and offering quicker access to financing, with payments made within five days of delivery.{{cite web
| last = Banker
| first = Steve
| title = PUMA's Sustainable Financing Helps Them Achieve Their ESG Goals
| website = Forbes
| date = July 12, 2024
| url = https://www.forbes.com/sites/stevebanker/2024/07/12/pumas-sustainable-financing-helps-them-achieve-their-esg-goals/
| access-date= November 12, 2024
}}
Sponsorships
{{multiple image
|direction = horizontal
|total_width = 350
|image1 = Final of the 2011–12 Austrian Cup (131).jpg
|caption1 = Austrian Cup football ball
|image2 = Guanti da portiere.jpg
|caption2 = Puma goalkeeper gloves
}}
International footballers Neymar, retired Gianluigi Buffon, retired Sergio Agüero, Antoine Griezmann, Marco Reus, Raphael Varane, Luis Suárez, retired David Silva, retired Vincent Kompany, Sunil Chhetri, Christian Pulisic, Dani Carvajal, Marc Cucurella, Yann Sommer, Jonas Hofmann, Wataru Endo, Kaoru Mitoma, Antony and more sport Puma football boots.{{cite web|url=https://www.puma-catchup.com/11-puma-football-players-revealed-playlists-they-are-listening-to-prior-to-a-match/|title=11 Puma Football Players revealed playlists they are listening to prior to a match|date=2019-06-27|website=Puma Catch up|access-date=2020-02-04|archive-date=4 February 2020|archive-url=https://web.archive.org/web/20200204163903/https://www.puma-catchup.com/11-puma-football-players-revealed-playlists-they-are-listening-to-prior-to-a-match/|url-status=live}}
Puma holds a 5% stake in German football club Borussia Dortmund, and has been its supplier since 2012.{{cite news |url=http://www.footballshirtculture.com/Sponsorship/borussia-dortmund-sign-puma-kit-deal.html |title=Borussia Dortmund agree an eight-year deal with Puma in a lucrative deal with the German club |publisher=Football Shirt Maker |access-date=2011-10-26 |location=London |first=Matthias |last=Bäumer |date=26 August 2012 |archive-date=27 April 2014 |archive-url=https://web.archive.org/web/20140427184732/http://www.footballshirtculture.com/Sponsorship/borussia-dortmund-sign-puma-kit-deal.html |url-status=live }} In 2014, Puma and Arsenal Football Club entered a 5-year merchandising partnership, the biggest deal in Puma and Arsenal's history.{{Cite news |date=27 January 2014 |title=Puma and Arsenal announce partnership |publisher=Arsenal |url=http://www.arsenal.com/news/news-archive/puma-and-arsenal-announce-partnership |access-date=2022-11-01 |archive-date=14 September 2015 |archive-url=https://web.archive.org/web/20150914181239/http://www.arsenal.com/news/news-archive/puma-and-arsenal-announce-partnership |url-status=live }} The partnership ended in 2019. Other football clubs include Barrow A.F.C., Derby County, Southampton F.C., Manchester City F.C., Fenerbahçe S.K., Galatasaray S.K., Olympique de Marseille, Sociedade Esportiva Palmeiras, Borussia Mönchengladbach, Club Cerro Porteño, RB Leipzig, Bodø/Glimt, PSV Eindhoven, FC Red Bull Salzburg, FC Shakhtar Donetsk, Girona FC, Valencia CF, AC Milan, Peñarol, Parma Calcio 1913, Club Bolívar, Club Atlético Independiente, Club de Fútbol Monterrey, Chivas de Guadalajara, Bengaluru FC, Mumbai City FC, Universidad Católica, Universitatea Craiova, Kawasaki Frontale, Yokohama FC, Shimizu S-Pulse, Kyoto Sanga FC and many others. National football teams include Ghana, Ivory Coast, Iceland, New Zealand, Senegal, Paraguay, Switzerland, Austria, Morocco, Egypt, Bahrain, Philippines, Portugal, Malaysia and Brunei.{{cite web|url=https://www.insidesport.co/manchester-city-confirm-860-mn-ten-year-sponsorship-deal-with-puma/|title=Puma inks Premier League's second highest sponsorship deal|last=Dhyani|first=Kunal|date=2019-03-01|website=InsideSport|language=en-gb|access-date=2020-02-04|archive-date=4 February 2020|archive-url=https://web.archive.org/web/20200204163904/https://www.insidesport.co/manchester-city-confirm-860-mn-ten-year-sponsorship-deal-with-puma/|url-status=live}}
File:Usain Bolt Rio 100m final 2016k.jpg in his Puma track uniform]]
In athletics (track and field), as of February 2025, Puma sponsors the Bahamas Olympic Committee, Jamaica Olympic Committee, Trinidad and Tobago Olympic Committee, Bahamas Athletics Association, Cuba Athletics Federation, Jamaica Athletics Association, Portugal Athletics Federation, and Switzerland Athletics Federation. They sponsor athletes Karsten Warholm, Shericka Jackson, Mondo Duplantis, Yaroslava Mahuchikh, Felix Streng, Julien Alfred, Marcell Jacobs, Konstanze Klosterhalfen, Andre De Grasse, and Elaine Thompson-Herah.{{Cite web |title=Track and Field {{!}} PUMA® |url=https://about.puma.com/en/this-is-puma/our-sports/track-and-field |access-date=2025-02-17 |website=about.puma.com |language=en}} Several world records were achieved by athletes wearing Puma shoes, such as Heinz Fütterer (1954), Armin Hary (1960), Jim Hines (1968), Tommie Smith (1968), Asafa Powell (2015), and Usain Bolt (2002).{{cite web|url=https://www.complex.com/sneakers/2012/08/the-20-most-iconic-sneakers-in-olympic-history|title=The 20 Most Iconic Sneakers in Olympic History|website=Complex|access-date=2018-06-12|archive-date=12 June 2018|archive-url=https://web.archive.org/web/20180612184607/https://www.complex.com/sneakers/2012/08/the-20-most-iconic-sneakers-in-olympic-history|url-status=live}}{{Cite news|url=https://www.puma-catchup.com/a-culture-of-firsts/|title=A Culture of "Firsts"|date=2017-06-15|work=Puma Catch up|access-date=2018-06-12|archive-date=30 March 2018|archive-url=https://web.archive.org/web/20180330020751/http://www.puma-catchup.com/a-culture-of-firsts/|url-status=live}}
In 2018, Puma announced its entrance back into basketball after a break of almost 20 years, and appointed Jay-Z as the division's creative director.{{Cite news|url=https://www.cnbc.com/video/2018/06/18/puma-returns-to-basketball-nba-sponsorship.html|title=After 20 years, Puma returns to basketball|publisher=CNBC|access-date=2018-06-18|date=19 June 2018|archive-date=19 June 2018|archive-url=https://web.archive.org/web/20180619040145/https://www.cnbc.com/video/2018/06/18/puma-returns-to-basketball-nba-sponsorship.html|url-status=live}}{{Cite news|url=https://www.complex.com/sneakers/2018/06/puma-relaunches-basketball-division-announce-signings-jay-z-president-of-basketball-operations|title=Puma Relaunches Basketball Division With Multiple Signings, Jay-Z Joins as Creative Consultant|access-date=2018-06-20|archive-date=26 June 2018|archive-url=https://web.archive.org/web/20180626192243/https://www.complex.com/sneakers/2018/06/puma-relaunches-basketball-division-announce-signings-jay-z-president-of-basketball-operations|url-status=live}} Marvin Bagley III, Deandre Ayton, Zhaire Smith, and Michael Porter Jr. are the first players to join Puma's basketball roster and play in performance Puma basketball shoes.{{Cite news|url=https://uproxx.com/dimemag/puma-deandre-ayton-marvin-bagley-nba-draft-sneaker-contracts/|title=Puma Has Signed Deandre Ayton And Marvin Bagley To Sneaker Deals|date=2018-06-18|work=Uproxx|access-date=2018-06-20|language=en-US|archive-date=20 June 2018|archive-url=https://web.archive.org/web/20180620203720/https://uproxx.com/dimemag/puma-deandre-ayton-marvin-bagley-nba-draft-sneaker-contracts/|url-status=live}}{{Cite news|url=https://www.vivathematadors.com/2018/6/18/17475216/zhaire-smith-signs-shoe-deal-with-puma-nba-draft-texas-tech|title=Zhaire Smith signs shoe deal with Puma|work=Viva The Matadors|access-date=2018-06-20|archive-date=20 June 2018|archive-url=https://web.archive.org/web/20180620214218/https://www.vivathematadors.com/2018/6/18/17475216/zhaire-smith-signs-shoe-deal-with-puma-nba-draft-texas-tech|url-status=live}} In December 2021, the brand launched High Court, its first women's basketball line, designed by creative director June Ambrose.{{cite web |last=Vaughns |first=Victor Qunnuell Jr. |date=2 December 2021 |title=Superstar Stylist June Ambrose Shows Off Her Sportier Side in Her New Puma High Court Collection |url=https://www.ebony.com/style/superstar-stylist-june-ambrose-shows-off-her-sportier-side-in-her-new-puma-high-court-collection/ |archive-url=https://archive.today/20211204211359/https://www.ebony.com/style/superstar-stylist-june-ambrose-shows-off-her-sportier-side-in-her-new-puma-high-court-collection/ |archive-date=4 December 2021 |access-date=4 December 2021 |website=Ebony}}
Puma made its partnership with netball after 28 years by sponsoring the Melbourne Vixens in 2018, and became the official apparel sponsor of New Zealand's national netball team, the Silver Ferns.{{Cite news|url=https://melbournevixens.com.au/news/read/1323/puma-melbourne-vixens-partnership|title=Puma set to take to the court with Vixens partnership|publisher=Melbourne Vixens|access-date=4 September 2018|archive-url=https://web.archive.org/web/20180920160123/https://melbournevixens.com.au/news/read/1323/puma-melbourne-vixens-partnership|archive-date=20 September 2018|url-status=dead}}{{Cite web |title=New outfit for Silver Ferns as PUMA becomes premier partner |url=https://www.silverferns.co.nz/silver-ferns/news/latest-news/new-outfit-for-silver-ferns-as-puma-becomes-premier-partner.html |access-date=2022-10-08 |website=Silver Ferns News |archive-date=8 October 2022 |archive-url=https://web.archive.org/web/20221008204104/https://www.silverferns.co.nz/silver-ferns/news/latest-news/new-outfit-for-silver-ferns-as-puma-becomes-premier-partner.html |url-status=live }} Golfers such as Rickie Fowler and Lexi Thompson are equipped by Puma's golf brand Cobra Golf.{{Cite news |date=2018-02-02 |title=Rickie Fowler Signs a Long-Term Extension with Puma Cobra Golf |work=Success Series |url=https://www.successseries.com/2018/02/02/rickie-fowler-signs-a-long-term-extension-with-puma-cobra-golf/ |url-status=dead |access-date=2018-06-12 |archive-url=https://web.archive.org/web/20180612184733/https://www.successseries.com/2018/02/02/rickie-fowler-signs-a-long-term-extension-with-puma-cobra-golf/ |archive-date=12 June 2018}}{{Cite news|url=http://www.golf.com/tour-and-news/bryson-dechambeau-turns-pro-signs-deals-cobra-puma-bridgestone|title=DeChambeau Turns Pro, Signs Deals With Cobra Puma, Bridgestone|work=Golf.com|access-date=2018-06-12|language=en|archive-date=12 June 2018|archive-url=https://web.archive.org/web/20180612184525/http://www.golf.com/tour-and-news/bryson-dechambeau-turns-pro-signs-deals-cobra-puma-bridgestone|url-status=live}}{{Cite news|url=http://www.sportspromedia.com/news/lexi_thompson_signs_extension_with_cobra_puma|title=Lexi Thompson signs extension with Cobra Puma|access-date=2018-06-12|language=en|archive-date=9 December 2016|archive-url=https://web.archive.org/web/20161209045154/http://www.sportspromedia.com/news/lexi_thompson_signs_extension_with_cobra_puma|url-status=live}} Puma has also sponsored cricketers such as Virat Kohli, Ryan Burl, Heino Kuhn and Rashid Khan.{{cite web | url=https://www.vogue.in/content/virat-kohli-on-collaborating-with-puma-for-his-new-line-one8 | title=Virat Kohli on collaborating with Puma for his new line, One8 | date=13 November 2017 }}https://x.com/pumacricket/status/1565969112974913540{{cite web | url=https://sportsmintmedia.com/happy-birthday-rashid-khan-a-look-at-the-leg-spinners-endorsements-net-worth-and-charity/ | title=Happy Birthday Rashid Khan: A look at the leg spinner's endorsements, net worth and charity | date=20 September 2022 }}
File:2024-08-25 Motorsport, Großer Preis der Niederlande 2024, F1 Academy STP 3530 by Stepro.jpg driving Puma's F1 Academy car]]
Puma is the main producer of enthusiast driving shoes and race suits and entered a partnership with BMW, Ducati and Ferrari to make their respective shoes.{{Cite web|last=Ungureanu|first=Ionut|date=2015-03-15|title=Puma Unveils Special Suede Edition to Celebrate 10-Year Collaboration with Ferrari|url=https://www.autoevolution.com/news/puma-unveils-special-suede-edition-to-celebrate-10-year-collaboration-with-ferrari-93280.html|access-date=2022-02-25|website=autoevolution|language=en|archive-date=25 February 2022|archive-url=https://web.archive.org/web/20220225161024/https://www.autoevolution.com/news/puma-unveils-special-suede-edition-to-celebrate-10-year-collaboration-with-ferrari-93280.html|url-status=live}} In Formula 1, Puma equips the teams of Mercedes AMG Petronas, Scuderia Ferrari, Stake Kick Sauber, and Williams. They also equipped Red Bull Racing until 2022.{{cite web |title=Red Bull Formula One Investment Accelerates Four-Fold To $55 Million |url=https://www.forbes.com/sites/csylt/2017/09/23/red-bull-formula-one-investment-accelerates-four-fold-to-55-million/ |url-status=live |archive-url=https://web.archive.org/web/20180204013446/https://www.forbes.com/sites/csylt/2017/09/23/red-bull-formula-one-investment-accelerates-four-fold-to-55-million/ |archive-date=4 February 2018 |access-date=2018-06-13 |website=www.forbes.com |language=en}}{{Cite web |title=Williams Racing and PUMA forge long-term partnership |url=https://www.williamsf1.com/posts/c2901b6a-87a1-4ff8-896c-972c56a3b4dc/williams-racing-puma-partnership |access-date=2024-09-20 |website=Williams Racing |language=en}} In 2024 Puma became the official Formula 1 trackside vendor and personnel supplier, and also became an official partner of F1 Academy.{{Cite web |last=Brittle |first=Cian |date=2023-05-05 |title=F1 signs multi-year Puma supply deal |url=https://www.blackbookmotorsport.com/news/f1-supplier-partnership-puma/ |access-date=2024-09-20 |website=BlackBook Motorsport |language=en-GB}}{{Cite web |last=Cunningham |first=Euan |date=2024-02-21 |title=F1 and Puma expand relationship to cover F1 Academy |url=https://www.sportcal.com/sponsorship/f1-and-puma-expand-relationship-to-cover-f1-academy/ |access-date=2024-09-20 |website=Sportcal |language=en-US}} The company sponsors BMW, Mercedes and Porsche in all of their Motorsports activities.{{Cite news|url=http://www.bmwblog.com/2018/03/08/all-six-bmw-m4-dtm-liveries-revealed-before-2018-season-kick-off/|title=All Six BMW M4 DTM Liveries Revealed Before 2018 Season Kick Off|date=2018-03-08|work=BMW Blog|access-date=2018-06-13|archive-date=17 March 2023|archive-url=https://web.archive.org/web/20230317114656/https://www.bmwblog.com/2018/03/08/all-six-bmw-m4-dtm-liveries-revealed-before-2018-season-kick-off/|url-status=live}} In NASCAR, Puma equips Team Penske with fire suits, gloves, and shoes.{{Cite web |date=2021-05-13 |title=PUMA racewear partnership continues |url=https://wseries.com/news/puma-racewear-partnership-continues/ |access-date=2022-11-17 |website=W Series |language=en-GB |archive-date=27 September 2022 |archive-url=https://web.archive.org/web/20220927214000/https://wseries.com/news/puma-racewear-partnership-continues/ |url-status=live }}
File:Rihanna at Fenty x Puma fashion show.png fashion show]]Rihanna was named creative director of Puma's womenswear line in December 2014.{{cite magazine|url= http://www.vogue.co.uk/news/2014/12/16/rihanna-puma-creative-director-designer-sportswear|title= Rihanna Named Creative Director of Puma|author= Lauren Milligan|magazine= Vogue|date= 16 December 2014|access-date= 26 December 2014|archive-date= 26 December 2014|archive-url= https://web.archive.org/web/20141226232905/http://www.vogue.co.uk/news/2014/12/16/rihanna-puma-creative-director-designer-sportswear|url-status= live}} Two years later, Puma partnered with The Weeknd as a creative collaborator.{{Cite web |last=Kratofil |first=Colleen |date=August 7, 2017 |title=The Weeknd Designs a New Sneaker with Puma, Says He Really Hopes to See the Pope and Barack Obama Wearing It |url=https://people.com/style/the-weeknd-designs-puma-sneakers/ |access-date=2022-07-10 |website=People |archive-date=10 July 2022 |archive-url=https://web.archive.org/web/20220710065032/https://people.com/style/the-weeknd-designs-puma-sneakers/ |url-status=live }} In 2018, Puma launched its venture with its ambassador Selena Gomez called "Phenom Lux"{{Cite news|url=https://solecollector.com/news/2018/05/selena-gomez-debuts-puma-defy-trainer|title=Selena Gomez Debuts Puma's New Training Shoe|work=Sole Collector|access-date=2018-06-13|language=en|archive-date=13 June 2018|archive-url=https://web.archive.org/web/20180613184451/https://solecollector.com/news/2018/05/selena-gomez-debuts-puma-defy-trainer|url-status=live}}{{Cite news|url=https://www.glamour.com/story/selena-gomez-new-puma-collection-sneakers-socks|title=Selena Gomez Designed a Pair of Sneakers—and Socks!—for Puma|last=Minton|first=Melissa|work=Glamour|access-date=2018-07-18|archive-date=18 July 2018|archive-url=https://web.archive.org/web/20180718115200/https://www.glamour.com/story/selena-gomez-new-puma-collection-sneakers-socks|url-status=live}} In 2019, Big Sean became Puma's brand ambassador.{{Cite web |title=Puma renforce encore sa stratégie d'ambassadeurs avec Big Sean |url=https://fr.fashionnetwork.com/news/puma-renforce-encore-sa-strategie-d-ambassadeurs-avec-big-sean,801676.html |access-date=23 April 2023 |website=Fashion Network |date=9 March 2017 |archive-date=26 March 2023 |archive-url=https://web.archive.org/web/20230326130242/https://fr.fashionnetwork.com/news/puma-renforce-encore-sa-strategie-d-ambassadeurs-avec-big-sean,801676.html |url-status=live }} Puma has also partnered with LaMelo Ball, NBA athlete, in 2020 to create a line including sports, culture, music and fashion.
In 2024, Puma appointed Milind Soman as its running ambassador.{{cn|date=January 2025}} The same year, Sekou became the brand's ambassador.{{Cite web |title=PUMA Announces Sekou As Its Latest Brand Ambassador |url=https://www.clashmusic.com/fashion/puma-announces-sekou-as-its-latest-brand-ambassador/ |access-date=23 April 2024 |website=Clash |date=23 April 2024 |archive-date=23 April 2024 |archive-url=https://web.archive.org/web/20240423132906/https://www.clashmusic.com/fashion/puma-announces-sekou-as-its-latest-brand-ambassador/ |url-status=live }} Later in June, Rosé becomes Puma's brand ambassador.{{Cite web |title=BLACKPINK's Rosé named new brand ambassador for Puma |url=https://uk.news.yahoo.com/blackpinks-ros-named-brand-ambassador-080514457.html |access-date=18 June 2024 |website=Yahoo!|date=18 June 2024 }}
Labour practices and factory conditions
In 2000, Puma began auditing all of its suppliers on a yearly basis, and makes the results available in its sustainability reports. Since 2005, it has publicly provided a list of its suppliers.Puma, Puma releases 2007–2008 Sustainability Report, 2009. Retrieved 20 January 2011.
In August 2004, a joint report from the National Labor Committee and China Labor Watch stated that workers at some of Puma's Chinese factories were enduring sweatshop conditions, working up to 16.5 hours per day for about US$0.31 an hour. Puma said it would investigate the claims.{{cite news |title=GERMANY: Puma Accused of Chinese Sweatshop Exploitation |url=https://www.just-style.com/news/puma-accused-of-chinese-sweatshop-exploitation_id69378.aspx |access-date=6 March 2020 |work=just-style |date=20 August 2004 |archive-date=29 October 2020 |archive-url=https://web.archive.org/web/20201029164347/https://www.just-style.com/news/puma-accused-of-chinese-sweatshop-exploitation_id69378.aspx |url-status=live }}
In February 2012, a woman who worked for one of Puma's suppliers in Cambodia was shot during a protest over factory working conditions. Puma acknowledged the poor working conditions and said it would work to improve the situation.{{cite news |title=Puma officials go to Cambodia after factory shooting |url=https://www.reuters.com/article/puma-cambodia/puma-officials-go-to-cambodia-after-factory-shooting-idUSL5E8DN8S820120223 |access-date=6 March 2020 |work=Reuters |date=23 February 2012 |archive-date=30 May 2022 |archive-url=https://web.archive.org/web/20220530194234/https://www.reuters.com/article/puma-cambodia/puma-officials-go-to-cambodia-after-factory-shooting-idUSL5E8DN8S820120223 |url-status=live }}
According to a joint report from Labour Behind the Label and Community Legal Education Centre, 30 workers fainted in November 2012 while producing clothing for Puma in China. The faintings were caused by excessive heat and alleged forced overtime.{{cite report |author=Anna McMullen |title=Shop 'til they drop: Fainting and Malnutrition in Garment Workers in Cambodia |url=http://labourbehindthelabel.net/wp-content/uploads/2015/10/shoptiltheydrop.pdf |publisher=Labour Behind the Label |page=5 |access-date=8 March 2020 |archive-date=28 April 2020 |archive-url=https://web.archive.org/web/20200428003231/http://labourbehindthelabel.net/wp-content/uploads/2015/10/shoptiltheydrop.pdf |url-status=live }}{{cite news |last1=McCoy |first1=Terrence |title=Mass faintings in Cambodia: What's the reason? |url=https://www.washingtonpost.com/news/morning-mix/wp/2014/04/10/mass-faintings-in-cambodia-whats-the-reason/ |access-date=6 March 2020 |newspaper=The Washington Post |date=10 April 2014 |archive-date=5 September 2021 |archive-url=https://web.archive.org/web/20210905185016/https://www.washingtonpost.com/news/morning-mix/wp/2014/04/10/mass-faintings-in-cambodia-whats-the-reason/ |url-status=live }} In 2014, almost 120 workers fainted in two Cambodian clothing factories where sportswear was being produced for Puma and Adidas, due to temperatures above {{convert|100|°F|abbr=out}}.{{cite news |title=Hundreds of Cambodian garment workers faint |url=https://www.aljazeera.com/news/asia-pacific/2014/04/hundreds-cambodian-garment-workers-faint-201443131659267499.html |access-date=8 March 2020 |work=Al Jazeera |date=3 April 2014 |archive-date=13 April 2020 |archive-url=https://web.archive.org/web/20200413103913/https://www.aljazeera.com/news/asia-pacific/2014/04/hundreds-cambodian-garment-workers-faint-201443131659267499.html |url-status=live }} In March 2017, 150 workers assembling Puma products in Cambodia fainted due to thick smoke.{{cite news |last1=McVeigh |first1=Karen |title=Cambodian female workers in Nike, Asics and Puma factories suffer mass faintings |url=https://www.theguardian.com/business/2017/jun/25/female-cambodian-garment-workers-mass-fainting |access-date=8 March 2020 |work=The Guardian |date=24 June 2017 |archive-date=5 March 2020 |archive-url=https://web.archive.org/web/20200305115724/https://www.theguardian.com/business/2017/jun/25/female-cambodian-garment-workers-mass-fainting |url-status=live }}
Puma has obtained the Ethical Clothing Australia accreditation for its Australian-made products.Ethical Clothing Australia, Accredited sports brands. Retrieved 20 January 2011. This labour-friendly accreditation applies to only a small percentage of Puma's total production.{{citation needed|date=February 2019}}
In 2020, the Australian Strategic Policy Institute accused at least 82 major brands, including Puma, of being connected to forced Uyghur labor in Xinjiang.{{Cite book |last=Xu |first=Vicky Xiuzhong |url=https://www.aspi.org.au/report/uyghurs-sale |title=Uyghurs for sale : 're-education', forced labour and surveillance beyond Xinjiang |oclc=1144493067 |access-date=14 March 2022 |archive-date=24 August 2020 |archive-url=https://web.archive.org/web/20200824215335/https://www.aspi.org.au/report/uyghurs-sale |url-status=live }} In 2022, researchers from Nordhausen University of Applied Sciences identified cotton from Xinjiang in Puma shirts.{{Cite web |last=Oltermann |first=Philip |date=2022-05-05 |title=Xinjiang cotton found in Adidas, Puma and Hugo Boss tops, researchers say |url=https://www.theguardian.com/world/2022/may/05/xinjiang-cotton-found-adidas-puma-hugo-boss-tops-researchers-claim-uyghur |access-date=2022-05-06 |website=The Guardian |language=en |archive-date=6 May 2022 |archive-url=https://web.archive.org/web/20220506225913/https://www.theguardian.com/world/2022/may/05/xinjiang-cotton-found-adidas-puma-hugo-boss-tops-researchers-claim-uyghur |url-status=live }}
Research funded by the Progressive Alliance of Socialists and Democrats of the European Parliament and the Freedom Fund, conducted by Uyghur Rights Monitor, Sheffield Hallam University, and the Uyghur Center for Democracy and Human Rights, showed in December 2023 that Puma is supplied by Gain Lucky, an international intermediary of Anhui Huamao, a textile manufacturer that has a history of using forced labour by Uyghurs .{{Cite news |title=Tailoring Responsibility: Tracing Apparel Supply Chains from the Uyghur Region to Europe |url=https://www.shu.ac.uk/-/media/home/research/helena-kennedy-centre/projects/eu-apparel/eu-tailoring-responsibility-february-24.pdf |access-date=March 27, 2024 |work=Uyghur Rights Monitor, the Helena Kennedy Centre for International Justice at Sheffield Hallam University, and the Uyghur Center for Democracy and Human Rights |pages=17 |archive-date=27 March 2024 |archive-url=https://web.archive.org/web/20240327153232/https://www.shu.ac.uk/-/media/home/research/helena-kennedy-centre/projects/eu-apparel/eu-tailoring-responsibility-february-24.pdf |url-status=live }}
Environmental practices
In May 2011, English newspaper The Guardian stated that Puma was the "world's first major company to put a value on its environmental impact" and that Puma "has made a commitment that within four years, half its international collections will be manufactured according to its internal sustainability standard, by using more sustainable materials such as recycled polyester, as well as ensuring its suppliers develop more sustainable materials and products."{{cite news |author=Jo Confino |url=https://www.theguardian.com/sustainable-business/puma-value-environmental-impact-biodiversity |title=Puma world's first major company to put a value on its environmental impact |newspaper=The Guardian |date=16 May 2011 |access-date=2019-08-30 |archive-date=19 September 2016 |archive-url=https://web.archive.org/web/20160919113040/https://www.theguardian.com/sustainable-business/puma-value-environmental-impact-biodiversity |url-status=live }}
Puma is also known for boosting positive environmental practices in its supply chain through financial incentives. The supply chain finance scheme implemented links the sustainability performance of key suppliers to the costs at which they can access finance. Puma managed to limit the carbon emissions that emanate from its supply chain through employing more eco-friendly and less carbon intensive materials.{{Cite web |title=PUMA's journey towards more sustainable footwear |url=https://sustainabilitymag.com/articles/pumas-journey-towards-more-sustainable-footwear |access-date=15 January 2024 |website=Sustainability Magazine |date=4 February 2023 |archive-date=15 January 2024 |archive-url=https://web.archive.org/web/20240115144554/https://sustainabilitymag.com/articles/pumas-journey-towards-more-sustainable-footwear |url-status=live }} The system won the company an "Innovation Award" in Supply Chain Finance in 2016.{{Cite news|url=http://www.scfbriefing.com/the-innovation-award-puma/|title=The 2016 Innovation Award: Puma|work=Supply Chain Finance Briefing|access-date=2018-04-14|language=en-GB|archive-date=28 September 2018|archive-url=https://web.archive.org/web/20180928204504/http://www.scfbriefing.com/the-innovation-award-puma/|url-status=dead}}
Puma managed to reduce its own carbon emissions worldwide by 88% between 2017 and 2021. This was mainly facilitated through buying renewable energy or renewable energy certificates.
In 2023, Puma announced that it would stop using kangaroo leather in its products, including its redesigned KING football boot, which features uppers containing at least 20% recycled material.Dan Hajducky,"[https://www.espn.com/soccer/blog-fifa/story/4900211/nikepuma-to-stop-using-kangaroo-leather-in-soccer-boots Nike, Puma to stop using kangaroo leather in soccer boots, all products] {{Webarchive|url=https://web.archive.org/web/20230402173039/https://www.espn.com/soccer/blog-fifa/story/4900211/nikepuma-to-stop-using-kangaroo-leather-in-soccer-boots |date=2 April 2023 }}," ESPN, 13 March 2023."[https://www.businesswire.com/news/home/20230302005065/en/0-Leather.-110-KING---PUMA-Phases-out-K-Leather-With-Innovative-K-BETTER%E2%84%A2-Technology 0% Leather, 110% KING - PUMA Phases out K-Leather With Innovative K-BETTER™ Technology] {{Webarchive|url=https://web.archive.org/web/20230402173039/https://www.businesswire.com/news/home/20230302005065/en/0-Leather.-110-KING---PUMA-Phases-out-K-Leather-With-Innovative-K-BETTER%E2%84%A2-Technology |date=2 April 2023 }}," BusinessWire.com, 2 March 2023. Also, in April 2023, Puma announced its new sustainable initiative, Voices of a Re:Generation, which aims to develop the brand's 'sustainable journey' through involving the 'recommendations' and 'perspectives' of the next generation.{{Cite web |title=PUMA Engaging 'Voices of a Re:Generation' to Help Shape Its Sustainability Strategy |url=https://sustainablebrands.com/read/collaboration-cocreation/puma-engaging-voices-regeneration-shape-sustainability-strategy |access-date=17 December 2023 |website=Sustainable Brands |date=7 April 2023 |archive-date=17 December 2023 |archive-url=https://web.archive.org/web/20231217140729/https://sustainablebrands.com/read/collaboration-cocreation/puma-engaging-voices-regeneration-shape-sustainability-strategy |url-status=live }}{{Cite web |title=Puma launches 'Voices of a Re:Generation' initiative |url=https://ww.fashionnetwork.com/news/Puma-launches-voices-of-a-re-generation-initiative,1504571.html |access-date=17 December 2023 |website=Fashion Network |date=7 April 2023 |archive-date=17 December 2023 |archive-url=https://web.archive.org/web/20231217140729/https://ww.fashionnetwork.com/news/Puma-launches-voices-of-a-re-generation-initiative,1504571.html |url-status=live }}{{Cite web |title=Puma celebrates 1 year of Voice of a Re:Generation initiative |url=https://fashionunited.uk/news/fashion/puma-celebrates-1-year-of-voice-of-a-re-generation-initiative/2024043075353 |access-date=15 May 2024 |website=Fashion United|date=30 April 2024 }} Voices of Re:Generation is made up of young activists in Europe and the U.S. ranging from 12 to 30 years old. They take action through protests, rallies, petitions, and partnerships with major companies, like Puma.{{cite journal
| last = Eide
| first = Elisabeth
| title = Voices of a generation the communicative power of youth activism
| journal = Climatic Change
| volume = 169
| issue = 6
| pages = 1–20
| year = 2021
| doi = 10.1007/s10584-021-03211-z
| pmid = 34744220
| pmc= 8561677
| bibcode = 2021ClCh..169....6E
}} The initiative features figures like Alice Aedy and Andrew Burgess, who aim to make sustainability more transparent and resonate with Gen Z. It also seeks to combat "greenwashing" through actionable steps and inclusivity. As teen spending power grows, Puma’s focus on environmental priorities aligns with this demographic's values, complementing other Gen Z-focused efforts like metaverse projects.{{cite web
| last = Karlovitch
| first = Sara
| title = Puma assembles team of young activists to tailor sustainability initiatives
| website = Marketing Dive
| date = April 7, 2023
| url = https://www.marketingdive.com/news/puma-climate-activists-sneakers-gen-z-marketing/647076/
| access-date= November 18, 2024
}}
Puma's focus on the environment and partnerships with these sustainability initiatives has paid off. The company's values reflect the growing consumer demand for environmentally conscious brands. This has led to an increase in Puma's product demand, therefore boosting their finances.{{cite journal
| last = Nachimuthu
| first = Amsaveni
| title = A Study of Consumer Perception and Brand Loyalty of Puma Brand
| journal = Journal of the Oriental Institute
| volume = 72
| issue = 5
| pages = 129–136
| year = 2024
| url = https://www.researchgate.net/publication/381828431
}}
In January 2024, the fashion Energy Report of Utility Bidder, a utility switching service, categorized Puma as the 'most sustainable brand' with a high sustainability rating, a high level of transparency, and a low amount of CO2 produced when someone visits their website.{{Cite web |title=Puma is 'most sustainable fashion brand' using this surprising measure |url=https://ww.fashionnetwork.com/news/Puma-is-most-sustainable-fashion-brand-using-this-surprising-measure,1592729.html |access-date=15 January 2024 |website=Fashion Network |date=11 January 2024 |archive-date=15 January 2024 |archive-url=https://web.archive.org/web/20240115144553/https://ww.fashionnetwork.com/news/Puma-is-most-sustainable-fashion-brand-using-this-surprising-measure,1592729.html |url-status=live }}
References
{{Reflist}}
=Bibliography=
- {{Cite book|last=Smit|first=Barbara|title=Sneaker Wars|publisher=Harper Perennial|year=2009|location=New York|isbn=978-0-06-124658-6}}
External links
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