Puma targets 30% market share, to open 100 more outlets
The global sports and lifestyle brand Puma is aiming to capture about 30 percent of the organised retail sportswear market in the country by next year and would also be adding about 100 more stores, a top company executive said.
Mumbai: The global sports and lifestyle brand Puma is aiming to capture about 30 percent of the organised retail sportswear market in the country by next year and would also be adding about 100 more stores, a top company executive said.
"We are looking at about 40 percent growth and will soon have a significant market share of the organised retail sportswear segment. We are aiming to capture about 25-30 percent share of the market by next year," Puma India Managing Director Rajiv Mehta told media here.
At present, the German brand enjoys 18-20 share of the top four branded sportswear segments in the country.
The domestic sportswear market is worth about Rs 3,000 crore and is clipping at 20 percent annually.
To fuel this growth, the company is looking at adding another 50-100 exclusive stores in 2012, Mehta said, adding however, the number of stores depends on whether the company finds the right location.
Puma, one of the top four sportswear brand in the country, has 160 exclusive stores and is available at 900 large format stores, like ShoppersStop, Lifestyle, Ritu Wears, Globus, and Westside.
The company is also planning to introduce its perfumes in the domestic market by next year. "We have an exclusive manufacturing licence with Procter & Gamble (P&G). It depends on P&G when they will launch the Puma perfumes here, but we expect it to be soon, sometime next year," he added.
Globally, Puma's products are endorsed by the world's fastest man Usain Bolt, and Mehta said they are not chasing for an endorser here but if there is a promising sports personality, the company would probably think about it.
The company currently sponsors the apparel and gears for the two Indian Premiere League teams-- the Deccan Chargers and the Rajasthan Royals. The company was founded in Germany and the group owns the brands Puma, Cobra Golf and Tretorn.
The company distributes its products in over 120 countries and has a work force of more than 9,500 worldwide.
The German company also has a tie-up with the iconic sports carmaker Ferrari to develop a Ferrari-licensed footwear, apparel and accessories for global sales and distribution. The parent company's consolidated sales stood at 2.7 billion euros last year.