Now Reading: Puma India shifts to value focus under new MD after reset
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Puma India shifts to value focus under new MD after reset
Puma India managing director Ramprasad Sridharan has outlined a strategy to regain growth by focusing on value, running, hybrid fitness and team sports after a reset that included closing about 20-25 stores…
Puma India managing director Ramprasad Sridharan has outlined a strategy to regain growth by focusing on value, running, hybrid fitness and team sports after a reset that included closing about 20-25 stores and cutting back on discounted business. The German sportswear brand, which grew its India business fourfold in the past decade to revenue of about Rs 3,200 crore, is now responding to a more crowded budget segment where consumers demand better products at lower prices.
Running has become Puma's biggest category, accounting for nearly 30% of retail sales, with consumers buying different shoes for various types of runs. The company sees opportunity in the growing number of buyers willing to spend up to Rs 20,000 on footwear. Puma is also betting on Hyrox, a hybrid fitness competition, and its cricket partnership with Royal Challengers Bengaluru, which grew 75% this year. About 75% of Puma's products are now made in India, up from 49% in 2023.
Indian Opinion Analysis
Puma India's pivot comes as the sportswear market's bottom end gets crowded with local and regional players offering lower prices. The company's move to close unprofitable stores and consolidate to larger outlets mirrors a broader retail trend where experience matters more than footprint. With online sales steady at about 50%, the offline reset is critical. The real test for Sridharan's value-not-cheap strategy will be whether Puma can sustain margins while competing against both premium global brands and aggressive domestic rivals. Watch for how quickly the new product pipeline for running and hybrid fitness categories ramps up in the next two quarters.
Source: retail.economictimes.indiatimes.com
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