22 Apr Puma Reports Solid First Quarter Sales Gains
Puma posted sales of €825 million ($931 mm), up 13 percent from a year earlier, or 4.5 percent in comparable terms, mainly driven by strong sales momentum in the Footwear category, parent company Kering reported.
Sales from other Sport & Lifestyle Activities brands, which include Volcom, Cobra, Electric and Tretorn, reached €65.0 ($73 mm), compared with €59.6 million a year earlier, which represented an increase of 9.1 percent and a decline of -5.1 percent in comparable terms, which excludes the effect of acquisitions, divestitures and currency translation.
Overall Sport & Lifestyle Activities comparable revenues eached €890 million ($1.0 bn), or 50.7 percent of its €1.75 billion ($2.0 bn) in revenue for the quarter. That represented comparable growth of 3.7 percent and reported growth of 12.7 percent.
Kering noted that it finalized its product partnership with the optics company Safilo Group on Jan. 12, 2015 will cover product development, manufacturing and supply of Gucci Eyewear products and will be implemented from the fourth quarter of 2015 in order to ensure the proper transition of the Gucci Eyewear activities before the early termination of the current Gucci license on Dec. 31, 2016. This product partnership is one of the key steps of Kering’s strategic move aimed at building an in-house Eyewear platform for its Luxury and Sport & Lifestyle brands. Safilo established a global Sports Eyewear design lab in Portland,OR last year that will be speareaded by its Smith optics brand.
On 15 January 2015, Kering sold the assets of the Movitex group to its management team. The sale followed the recapitalization of the company in accordance with the tentative agreement signed on 3 December 2014.
On 18 March 2015, Kering announced the appointment of Roberto Vedovotto, CEO of Kering Eyewear, as a new member of its Executive Committee.