Marathon, not a sprint.

At Puma, still the global number three in the sporting goods market, things have not been going well for some time; but the current quarterly figures are alarming: minus 15 percent in North America, minus nine percent in Asia, and also minus seven percent in the otherwise solid Europe. The share price is falling accordingly - and Puma will cut costs this year (and employ 20 percent fewer people at the end of the year). We don't need any insider knowledge to assume that the marketing and brand budget will also be hit. And yes, we understand that. Because Puma now has to protect its cash first. But it is also clear that Puma has a brand problem. And it started twenty years ago, when the company consistently focused on lifestyle and fashion and was very successful with this - and then neglected the performance sector. The problem: brands such as Adidas, Nike and Puma work differently to Lacoste or Fila. Puma not only needs visibility in professional sport, but also functional innovation in order to be credible in the long term and to counter the volatility in the fashion business. Adidas has understood this and is not only continuing to expand the Originals line, but is also focusing on real innovation - the keyword being "Adizero". Of course, the Puma brand is still strong, but the return to the top group will probably be more of a marathon than a sprint.

Here is the link: https://www.absatzwirtschaft.de/puma-streicht-900-stellen-konzernchef-hoeld-startet-tiefgreifenden-umbau-276855/