Expecting mid-single-digit currency-adjusted sales growth, Puma targets revenues ranging from €620 million to €700 million in fiscal 2024. The brand's football innovations, including Future, Ultra and King boots, have garnered significant market share and attracted world-class athletes like Kai Havertz, Jack Grealish, and Xavi Simons.
Moreover, Puma's commitment to sustainability is evident through initiatives such as using recycled or certified materials in 8 out of 10 products since 2023. The brand plans to manufacture all football jerseys from recycled textile waste with RE:FIBRE.
Embodying the values of excellence and athleticism, Puma recently released its annual sales report for 2023, showcasing impressive growth despite industry volatility.
In Q4 2023, Puma’s sales surged by 6.6 per cent, culminating in a full-year growth of the same margin. The company's global revenue soared to approximately €8.6 billion. Notably, Puma achieved a 20 basis point improvement in gross profit margin, reaching 46.3 per cent, attributed to favorable pricing, geographical mix, and channel effects. However, adverse currency fluctuations resulted in over €400 million in lost sales.
The Asia/Pacific and EMEA regions witnessed robust sales growth, whereas the American region faced challenges, particularly due to the extraordinary devaluation of the Argentine peso. Undeterred, Puma refined its strategy in 2023, focusing on brand elevation, product excellence, and enhanced distribution.
Strategically appointing new management teams in the US and China, Puma aimed to bolster long-term growth in these critical markets. Consequently, the company entered 2024 in a stronger position, poised to capitalise on major sporting events such as the Olympic Games, Euro 2024, and the Copa America.
