Sportswear brand Puma has posted 14.1% increase in consolidated sales to €674m (£595m) for the second quarter of 2011 and is on track to reach the €3bn (2.7bn) sales milestone by the end.
The brand’s strong performance is attributed to its “Back on the Attack” strategy, which has seen it invest in marketing, sales and product development as well as seeing to streamline its internal process to cut costs.
Its footwear and accessories divisions delivered particularly strong performances over the three months to June 30. Footwear sales rose by 16.2% to €352.6m (£311.2m), driven by the success of its top selling Puma Fass running shoe, while sales of accessories increased by an “eye catching” 15% to €96.7m (85.3m).
This performance is repeated over the first half of the year with accessories again a key performer, with sales up by 29.4%, while footwear is up by 9.9% and apparel by 7%.
Puma, which is owned by French luxury fashion house PPR, is doing particularly well in the Americas, with sales in the region growing by 19.6% to €226m (£199.5m) over the second quarter driven by strong demand for its lifestyle and motorsports products. In Europe, the Middle East and Africa, sales are up by 9.2% to €290m (£256m) after a “satisfying” performance in Western and Eastern Europe. Meanwhile, Asia-Pacific posted a gain of 20.1% to €158m, after sales in Japan recovered faster than expected following the earthquake earlier in the year.
Franz Koch, chief executive of Puma, said: “The investments into our core markets, in line with our Back on the Attack company growth strategy, have started to pay off and we will continue to strengthen our brand and product in order to become the most desirable and sustainable sportlifestyle company in the world.“