puma: Puma India revenue up 68% to ₹2,000 Cr in 2021 | Bangalore News

Bengaluru: Sports brand Puma passed the Rs 2,000 crore revenue milestone in India in 2021, jumping 68% from the previous year. This is the fastest growth in over a decade, and it may have propelled it further than some of its peers.
Data from the Registrar of Companies (RoC) shows that Puma India achieved revenue of Rs 2,044 crore in 2021, compared to Rs 1,215 crore in 2020. In this pandemic year, revenue had fallen by 14% compared to 2019, when it was 1,413 rupees. crore.
Rivals Adidas, Nike and Reebok won’t complete their current fiscal year until March. In the last financial year ending March 2021, Adidas had revenue of Rs 945 crore, a pandemic-induced drop of 23% from the previous year, Nike had Rs 564 crore, a drop of 27 %, and Reebok had Rs 321 crore, down 26%.
Abhishek Ganguly, Managing Director of Puma India and Southeast Asia, said sport is growing tremendously in India, and sportswear/sportswear is seeing increased adoption with growing health awareness. and that people are embracing digital and community workouts. “
Also, when people are working from home, there is a casualness of outfits with people wearing sports and leisure wear, whether traveling or when staying indoors,” he said. declared.
Puma opened 51 stores in India in the last calendar year, bringing the total to 411 stores. Ganguly said the company has also significantly ramped up its online business. This channel has grown rapidly by 175% in 2021.
“We have set up pop-up stores in residential companies which have increased consumer connection. We have strengthened our local supply chain and improved operational efficiency by leveraging our local manufacturing strategy,” he said.
Last year, Puma collaborated with cricketer KL Rahul to launch a casual clothing line named 1Der, and launched an athleisure line with the RCB team. The brand has also bolstered Virat Kohli’s Puma X One8 line by launching an exclusive online collection for online fashion store Myntra.
Ganguly said the company’s campaigns focus on performance and healthy lifestyles. The athleisure trend, he said, will only deepen in Tier 1, 2 and 3 cities as more women and children become active and fitness conscious.
Consulting firm McKinsey says that with changing consumer attitudes towards activewear, the global activewear market is expected to grow 8% to 10% per year through 2025, from 295 ₹ billion in 2021 to ₹395 billion in 2025.
The report says influencers and digital communities are tapping into this growing trend.

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