Localized Products, Shift in Consumer Behavior Leads Puma to Franchise 100 list
German sportswear maker Puma has emerged as one of the top performing brands in the Franchise 100 list 2020, recently published by The Franchising World magazine.
The Franchise 100, which is a cumulative list of top performing brands, scores the brands on various parameters including franchise outlet growth, employee growth, company owned outlet ratio, franchisee satisfaction, among other factors.
Based on the recent developments, Puma has marked a strong growth in the Asia-Pacific region, which led to the brand feature in Franchise 100 list.
According to a recent press statement, Puma has called the Asia-Pacific region as its strongest market with 26% sales growth last year at €1,556.9 million, adding that growth in the region was primarily driven by China and India.
The India unit of the lifestyle sportswear brand reported revenue of Rs 1,413 crore in 2019, as per regulatory filings. Like-to-like store sales have grown by 17%. As per Puma, women-wear accounted for 28% sales, up from 24% a year ago.
Puma India Managing Director Abhishek Ganguly said the fastest growing segments were Tier II and III markets and women’s wear. He said online and offline channels grew equally.
“There’s a lot of traction on sportswear now with women, younger consumers and sportswear becoming a lifestyle statement. Apart from the shift in consumer behaviour, we have localised the product portfolio and do channel specific pricing,” Ganguly said.
Puma operates 365 owned stores across the country.
The Franchising World, India’s no.1 franchising magazine, identifies the Top-100 franchise brands and celebrates their achievements every year in its anniversary issue. The issue highlights the established and emerging Indian and global brands that are increasing their positioning in India along with the new-age brands that are lucrative and profitable, expanding fast and can act as a reference guide for budding entrepreneurs and investors across India.
Franchise 100 is the one-stop destination to know everything about the franchise industry and the leading brands, which investors and prospective franchisees can consider to start their entrepreneurship journey.