Puma India sales up 23% to Rs 1,413 cr

PTI, Feb 25, 2020, 10:09 AM IST

New Delhi: Sports brand PUMA on Monday said it has posted revenue growth of 23 per cent to Rs 1,413 crore for 2019.

The company has posted double-digit growth in the financial year ending December 2019, despite a slowdown that impacted several companies, Puma said in a statement.

“The brand’s success is a result of the growing number of consumers across Tier 2 and Tier 3 cities in India. In addition to this, the overall growth of the sportswear market and categories like women’s and kids is driving increased sales for the brand in India,” it said.

Puma India Managing Director Abhishek Ganguly said: “India is a very important market for PUMA globally. With the development in sports and also increasing the popularity of sportswear in fashion, especially among the youth, we see huge potential for growth in future. We will continue to invest and strengthen our presence in India.”

PUMA, which had entered India in 2006, has a strong retail presence operating 373 exclusive stores across the country.