Sports shoes: Puma wants to stimulate growth with the retro model “Speedcat”.

The world’s third largest sporting goods manufacturer Puma wants to generate massive growth with the new edition of the cult sports shoe “Speedcat”. Puma actually developed the model at the end of the 1990s as a fireproof shoe for motorsport pilots. When it was released in 2001, the thin-sole shoe became a fad for everyday use.

Puma re-released the model this year as part of the retro wave, also as a response to its competitor Adidas, which is enjoying great sales success with retro models such as “Samba” and “Gazelle”.

The third quarter of the current year was mixed for Puma. The strong euro weighed on sales, especially in comparison to the Turkish lira and the Mexican peso. Adjusted for currency effects, however, there was accelerated growth compared to the previous quarter. The operating result remained virtually unchanged. This means that Puma is still lagging behind its competitor Adidas.

Rival Adidas recently grew twice as fast

Puma has made further progress in strengthening the brand, said CEO Arne Freundt, commenting on the figures. In this way, the company is laying the foundation for faster growth. “Although it takes time, we are well on the way to increasing brand value and brand desirability,” said Freundt.

In the third quarter, sales of 2.3 billion euros were slightly below the level of the same period last year, as the company in Herzogenaurach announced. Adjusted for currency effects, there was growth of five percent. For comparison: Local rival Adidas recently grew twice as fast here.

Puma’s earnings before interest and taxes (EBIT) rose slightly to around 237 million euros. The bottom line was that the profit was three percent lower at 128 million euros.

For the year as a whole, the operating result is expected to be between 620 and 670 million euros. In 2023, Puma earned 622 million euros before interest and taxes.