For years, the German sportswear maker lacked a distinct identity. But Puma has found success in multi-brand retail and has gained a foothold in markets where Nike and Adidas aren’t dominant.

As lockdown measures across the globe remain in place key fashion players, including H&M, Zalando, Hugo Boss, Puma and Inditex have benefitted from an increase in consumers pivoting their spending online.

The sports retailer expects all markets to recover by the end of the year and for growth to return in 2021.