The flashback with Rihanna is not the only noteworthy news for Puma That closed the 2022 budget with a turnover of 8.46 billion euros
“She’s back”. With these words posted on Instagram Arne Freundt, CEO of Puma, has attracted global attention to the sportswear brand. The manager refers to the return of collaboration with the fashion brand Fenty founded by Rihanna. The post published on social media only adds “Coming soon”, leaving fans waiting for an official date.
L’artista, star of the recent halftime show del Super Bowthere, it had been creative director of a Puma women’s clothing line in 2014 which later evolved into the Fenty x Puma collection. The Creepers sneakers customized by the pop star sold out in a few hours and the fashion shows in Paris and New York were not only media successes but managed to drive the label’s sales. The partnership between Rihanna and Puma ended in the spring of 2018.
2022 has been a record-breaking year for Puma
The flashback with Rihanna is not the only noteworthy news for Puma That closed the 2022 financial statements with a turnover of 8.46 billion euros, up by 18.9% at constant exchange rates (+24.4% reported) and the highest in its history. Puma also achieved the record sum of 641 million euros in ebit, up 15% on the previous year. The ebit margin decreased from 8.2% to 7.6% while the net profit increased to 354 million, from 310 million in 2021.
As far as geographical segmentation is concerned, the Americas are the leading market with sales of 3.6 billion (+28.3%) followed by the EMEA area (+22.5%) and Asia Pacific (-2.2% due to the Covid-19 pandemic). In the 12 months the footwear segment recorded +30.8%, clothing recorded +10.1%, while accessories grew by 5.4%.
Wholesale sales rose by 22.7% to 6.5 billion while the direct-to-consumer channel grew by 7.7% (retail +11%, e-commerce +2.2%). In parallel, the company communicated the data relating to Q4 of 2022 which saw a 21.1% increase in turnover (+24.3% reported) at 2.1 million euros. In the morning, the Puma stock saw a negative performance of around -2%.
“2022 has been a record year for Puma. We accelerated our growth across all product categories and around the globe despite a volatile market environment. This success is due to our fantastic Puma Family team and our fantastic partnerships with athletes, retailers and suppliers. While facing some economic headwinds in 2023, we remain hungry and will continue to execute on our successful strategy. We will focus on increasing the strength of our brand and the conquering market shares in the United States and ChinaFreundt, CEO since January but with the company for ten years, said in a statement.
Puma’s economic forecasts for 2023
As for the predictions on the 2023the company stated that the high interest rates and inflation will affect consumer spending and annual profits may decline. Added to this could be currency fluctuations and increases in commodity prices, as well as geopolitical and macroeconomic uncertaintiesalso related to the war in Ukraine.
Puma expects a slowdown in revenue growth (“high single-digit”), while EBIT should be in the range of 590-670 million euros. The average, equal to 630 million, would be down by 2% compared to FY 2022.
In addition to the new deal with Puma, Rihanna continue to be at the forefront of the fashion world with the line Savage x Fentyalso conveyed through spectacular events, while it was suspended the luxury Fenty experiment in partnership with Lvmh.
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