Puma

PUMA (ETR: PUM) is the third-largest sportswear manufacturer in the world (2024). It went public through an initial public offering in 1986. In 2023, PUMA generated revenue of EUR 8.6 billion (USD 8.9 billion). 

PUMA offers sportswear under three main categories: 1) Footwear (~53% of total revenue in 2023) consists mainly of sneakers for running and training, motorsports, football, badminton, and basketball; 2) Apparel (~32%) includes sports, casual, and loungewear; and 3) Accessories (~15%) comprises hats, bags, sports equipment, and other wearables. The company’s products and services are distributed via two channels: Wholesale (~75% of total revenue in 2023) and Direct-To-Consumer (DTC) (~25%).

The EEMEA (Eastern Europe, Middle East, and Africa) region accounted for ~40% of total revenue in 2023, followed by the Americas (~39%) and the Asia Pacific region (~20%). PUMA targets an EBIT margin of 8%–8.5% with a long-term EBIT margin goal of 10%. It plans to reach net-zero emissions by 2050.