Puma announces return to the basketball market
Puma has announced that it will return to the basketball market in an effort to grow its presence in U.S. and China and battle rivals Nike, Adidas, and Under Armour.
The German based sportswear brand left the basketball market 17 years ago. Since leaving, it has focused its attention on partnerships with soccer and running stars as well as entertainers like Rihanna and Big Sean. With basketball shoes being the leader in U.S. footwear sales, Puma wants to get in on the action by partnering with influential atheletes and celebrities in the basketball space.
Currently, a major of its sales come from Europe, but it expects China, where basketball is very popular, to be its top market by 2022.