On August 7, 2024, European time, the well-known German sports brand PUMA (Puma) released its financial report for the second quarter and first half of 2024, and the data showed a strong growth momentum and distinct market layout characteristics.
Against the backdrop of global economic volatility, PUMA achieved significant performance growth with its superior brand influence and market strategy. Revenue in the second quarter, adjusted for currency, climbed to 2.117 billion euros (about 16.599 billion yuan), up 2.1% from the same period last year, once again demonstrating its solid position in the global market. Throughout the first half of the year, PUMA is to 4.22 billion euros (equivalent to about 33.089 billion yuan) revenue performance, set a new benchmark for the industry, of which the gross margin is increased to 47.2%, highlighting its strong profitability and cost control strategy.
(Photo source network intrusion)
It is particularly worth mentioning that the Chinese market occupies a pivotal position in PUMA's global map and has become an important engine for its performance growth. In the first half of the year, the Chinese market led the world's major markets with a high single-digit (7%-9%) growth rate, maintaining a strong growth trend for the sixth consecutive quarter. This achievement not only highlights PUMA's deep foundation and brand influence in the Chinese market, but also reflects the continued demand and enthusiasm of Chinese consumers for high-quality sports products.
However, in stark contrast to the strong performance of the Chinese market, PUMA's overall performance in the Asia-Pacific market was slightly weaker. While China contributed significant growth, the rest of the APAC market failed to keep pace, resulting in overall APAC revenue growth of just 1.2%, well below the 2.2% in Europe, Africa and the Middle East and 5.1% in the Americas. This phenomenon undoubtedly presents new challenges and opportunities for PUMA's future market layout and strategic adjustment.
To sum up, PUMA's performance in the first half of 2024 is remarkable, and the Chinese market is the highlight of its performance growth. Facing the future, PUMA needs to continue to deepen the Chinese market, while increasing investment and attention in other regions of the Asia-Pacific market to achieve a more balanced and sustainable development.
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