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.
FRANKFURT, Germany — German sportswear firm Puma plans to keep spending on marketing and on winning endorsements from star athletes, its chief executive said, seeking to revive a brand that still lags behind market leaders Nike and Adidas.
"We are not going to decrease marketing. It will always stay between 10 percent and 12 percent of sales," Bjorn Gulden told journalists after the company published full second-quarter results.
Puma's operating expenses rose 11 percent in the second quarter as it spent on marketing and retail, but demand for new high-margin shoe models still helped more than triple its operating profit (EBIT) to €43.4 million ($50.5 million).
Earlier this month, the group hiked its guidance for 2017 sales and operating profit as it announced a 16 percent jump in currency-adjusted second-quarter sales.
By Maria Sheahan; editor: Victoria Bryan.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.