Puma works out strategy to spread wings

German sportswear brand Puma is working on a strategy

to establish its footprint in India. Its Indian arm, Puma Sports India (Puma) has decided to house one of its international concepts, the ‘Puma Social’ by making use of extra space available in one of its flagship stores. The area serving food and beverages and meant to showcase cultural events on art and music will mainly witness after-parties of the sports events the brand would have a tie up with.

Increasing domestic sourcing for its stores is also on the company’s agenda. Its negative sales figure in Europe and China has had no impact on Puma’s growth expectations from India. The company is looking to a sales growth of 20 percent this fiscal, though slower than its previous year's the rate of 30 percent, but still faster compared to its other global competitors.

Puma, earns almost 55 percent of revenue from its footwear business and imports 80 percent of its product range. The rupee’s slide and slow consumer spending has definitely affected its profits. The company now plans to source more products locally in its apparels and accessories segments apart from opening a separate store for accessories. It earns 35 percent from apparels and 10 percent from accessories.