Puma Says Future is Female as Rihanna Draws More Sales
By Staff Writer
Puma taps into the booming female market of sportswear as Rihanna's self-designed sneakers helped the company in achieving higher sales which is more than anticipated in Q4. The German sportswear company appointed the famous female singer as creative director; releasing her first collection of clothing in New York last week which is black and white Goth-inspired range worn by models with black lipstick.
Aside from being the creative director of Puma in 2014, she also designed famous line of shoes along with the Fenty (her last name) collection of high fashion apparel that are sportswear-inspired. When her 'Creeper' sneakers launched last year of September online, it only took three hours for the shoes before it's sold out, says NBC News.
CEO Bjorn Gulden said in a news conference, "The future is female ... we see more and more women across the world are doing sports." He added that "We feel we can be the brand that owns the space between the gym and the runway."
Puma also revealed an offer with celebrity Kylie Jenner to be the brand ambassador even if brother-in-law Kanye West designs for Adidas. She said she would not sign up for the competitor brand, according toMSN.
After being left by Nike and Adidas in sales, Puma is finding ways to get back into the market and regain its position. The firm's quarterly sales increased 11.5% to €879 million, surpassing the analyst forecast of €839 million. The recorded earnings before interest and taxation grew to 2.6% to €10.9 million which is also higher than the forecast of €6.5 million. However, the total net loss is €6.5 million which is higher than what was expected which is €4.3 million, CNBC reports.
Different female sports brands have been released in the past years. Under Armour and Reebok have ventured into women's sportswear likewise with Superdry, Net-a-Porter, Missguided and Boohoo. Puma believes that Rio Olympics and football Euro and Copa America will boost its sales.
With Rihanna on its side, along with Kylie Jenner and a sports calendar, Puma is expecting to regain its market share of athletes and high fashion lover. The German company is making a great comeback with new designs and new angles in the world of sportswear.