The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
HERZOGENAURACH, Germany – German sportswear firm Puma forecast another year of fast sales and profit growth on Thursday after it reported strong quarterly results helped by demand for its chunky RS-X shoes and Cali sneakers marketed by singer Selena Gomez.
Fourth-quarter sales rose a currency-adjusted 20 percent to €1.226 billion ($1.38 billion), beating analyst consensus for €1.17 billion, while operating profit came in at €38 million, versus analyst forecasts for €39 million.
Puma said it expects sales to rise by about a currency-adjusted 10 percent in 2019 and operating profit of between €395 million and €415 million, while it is on track to meet a target for an operating margin of 10 percent by 2021/22.
Puma is growing faster than its bigger German rival Adidas and market leader Nike, helped by savvy social media campaigns and partnerships with celebrities like Gomez, Rihanna and rap mogul Jay-Z.
By Alexander Huebner and Emma Thomasson; editor: Thomas Seythal.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.