Arne Freundt took over as head of Puma in the fall. picture alliance/dpa/picture alliance via Getty Images
The German brand posted a record result in 2022, which contrasts with the difficulties of its enemy brother.
Berlin
Arne Freundt took over as head of Puma in the fall. At 42, the CEO could not have dreamed of a better scenario for the presentation of his very first results on Thursday 1er March. The leap of the feline in 2022 caused a sensation among all observers of the sector: + 19% in one year, a record turnover of 8.5 billion euros, 641 million euros in net profit. “It’s just huge,” notes economist Heiko Seif, who heads the sports business masters at Munich Business School. By way of comparison, the enemy brother Adidas only experienced 1% growth with a result that remains however three times greater in volume.
In Herzogenaurach, the small town in Bavaria where the two groups were born, after the historic dispute between the Dassler brothers, who had been making sports shoes as a family for years, the sibling rivalry continues. This time, Puma took the lead. Funny detail: his success is to the credit of the current boss of Adidas, the Norwegian…
This article is for subscribers only. You have 81% left to discover.
Want to read more?
Unlock all items immediately. Without engagement.
Already subscribed? Login