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`Puma (brand) - Wikipedia
`
`Puma (brand)
`
`Puma SE is a German multinational corporation who
`design and manufacture athletic and casual footwear,
`apparel,
`and
`accessories,
`headquartered
`in
`Herzogenaurach, Bavaria, Germany. Puma is the third
`largest sportswear manufacturer in the world.[8] The
`company was founded in 1948 by Rudolf Dassler
`(1898–1974). In 1924, Rudolf and his brother Adolf
`"Adi" Dassler had jointly formed the company Gebrüder
`Dassler Schuhfabrik ('Dassler Brothers Shoe Factory').
`The relationship between the two brothers deteriorated
`until they agreed to split in 1948, forming two separate
`entities, Adidas and Puma. Following the split, Rudolf
`originally registered the newly established company as
`Ruda (derived from Rudolf Dassler, as Adidas was
`based on Adi Dassler), but later changed the name to
`Puma. Puma's earliest logo consisted of a square and
`beast jumping through a D, which was registered, along
`with the company's name, in 1948. Puma's shoe and
`clothing designs feature the Puma
`logo and the
`distinctive "Formstrip" which was
`introduced
`in
`1958.[9]
`
`History
`
`Background
`Christoph Dassler was a worker in a shoe factory, while
`his wife Pauline ran a small laundry in the Franconian
`town of Herzogenaurach, 20 km (12.4 mi) from the city
`of Nuremberg. After leaving school, their son, Rudolf
`Dassler, joined his father at the shoe factory. When he
`returned from fighting in World War I, Rudolf was
`trained as a salesman at a porcelain factory, and later in
`a leather trading business in Nuremberg.[10]
`
`Puma SE
`
`ISIN
`Industry
`
`World headquarters in Herzogenaurach
`Company type Societas Europaea
`Traded as
`FWB: PUM (https://www.boe
`rse-frankfurt.de/global-searc
`h/PUM)
`MDAX Component
`DE0006969603
`Textile
`Footwear
`Split from Dassler Brothers
`Shoe Factory
`1948
`Rudolf Dassler
`Herzogenaurach, Bavaria,
`Germany
`Worldwide
`Arne Freundt (CEO)[1]
`Anne-Laure Descours (CSO)
`Hubert Hinterseher (CFO)
`
`Predecessor
`
`Founded
`Founder
`Headquarters
`
`Area served
`Key people
`
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`In July 1924, Rudolf and his younger brother, Adolf,
`nicknamed "Adi", founded a shoe factory. They named
`the new business "Gebrüder Dassler Schuhfabrik"
`(Dassler Brothers Shoe Factory) which was the only
`business at the time that manufactured sports shoes.[11]
`The pair started their venture in their mother's laundry.
`At the time, electricity supplies in the town were
`unreliable, and the brothers sometimes had to use pedal
`power
`from a stationary bicycle
`to run
`their
`equipment.[12] In 1927, they moved into a separate
`building.
`
`Products
`
`The brothers drove from Bavaria to the 1936 Summer
`Olympics in Berlin with a suitcase full of spikes and
`persuaded United States sprinter Jesse Owens to use
`them, the first sponsorship for an African American.
`Owens won four gold medals. Business boomed; the
`Dasslers were selling 200,000 pairs of shoes annually
`before World War II.[13]
`
`Revenue
`Operating
`income
`Net income
`Total assets
`Total equity
`Owners
`
`Maria Valdes (CPO)
`Héloïse Temple-Boyer
`(chair)
`Sportswear
`Footwear
`Sports equipment
`Apparel
`Accessories
` €8.601 billion (2023)
` €621 million (2023)
`
` €304.9 million (2023)
` €6.640 billion (2023)
` €2.582 billion (2023)
`Artémis (30%)
`T. Rowe Price (5%)
`Black Rock (4%)
`[2]
`18,681[3] (2023)
`
`Cobra Golf
`stichd[4]
`Fuel for Fans
`puma.com (https://eu.puma.
`com/)
`Footnotes / references
`[5][6][7][2][3]
`
`Both brothers joined the Nazi Party, but Rudolf was a
`keen Nazi, who applied to join, and was accepted into
`the Gestapo;
`they
`produced
`boots
`for
`the
`Wehrmacht.[14][15] A growing rift between the brothers
`reached a breaking point during a 1943 Allied bomb
`attack. Adi and his wife climbed into a bomb shelter
`that Rudolf and his family were already in. "Here are
`the bloody bastards again," Adi remarked, apparently
`referring to the Allied war planes, but Rudolf, due to his
`apparent insecurity, was convinced his brother meant
`him and his family.[16] When Rudolf was later picked up
`by American soldiers and accused of being a member of the Waffen SS, he was convinced that his
`brother had turned him in.[12]
`
`Number of
`employees
`Subsidiaries
`
`Website
`
`Split and creation of Puma
`After increasingly different views of how to run the business, the brothers split the business in 1948.
`Rudolf moved to the other side of the Aurach River to start his own company. Adolf started his own
`company using a name he formed using his nickname—Adi—and the first three letters of his last name
`—Das—to establish Adidas. Rudolf created a new firm that he called "Ruda", from "Ru" in Rudolf and
`"Da" in Dassler. A few months later, Rudolf's company changed its name to Puma Schuhfabrik Rudolf
`Dassler.[17]
`
`Puma and Adidas entered a fierce and bitter rivalry after the split. The town of Herzogenaurach was
`divided on the issue, leading to the nickname "the town of bent necks"—people looked down to see
`which shoes strangers wore.[12]
`
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`In the first football match after World War II in 1948, several
`members of the West Germany national football team wore Puma
`boots, including the scorer of West Germany's first post-war goal,
`Herbert Burdenski.[18] Rudolf developed a football boot with
`screw-in studs, called the "Super Atom" in collaboration with
`people
`such as West Germany's national
`coach Sepp
`Herberger.[19]
`
`A pair of Puma Smash Leather,
`lifestyle shoes
`
`Olympic presence
`At the 1952 Summer Olympics, 1500
`metres
`runner Josy Barthel of
`Luxembourg won Puma's first Olympic gold in Helsinki, Finland.[18]
`
`At the 1960 Summer Olympics, Puma paid German sprinter Armin Hary
`to wear Pumas in the 100-metre sprint final. Hary had previously worn
`Adidas products and approached Adolf for compensation. However,
`Adidas declined the request. Despite winning a gold medal in Pumas,
`Hary chose to wear Adidas during the medals ceremony, surprising the
`two Dassler brothers. Hary seemingly aimed to benefit financially from
`both brands, but Adolf was infuriated to the extent of banning the
`Olympic champion.[13]
`
`During the 1968 Olympics Black Power Salute, Puma-sponsored African-
`American athletes Tommie Smith and John Carlos, after having won gold
`and bronze in the 200 meters, respectively, took to the podium with their
`Puma Suede shoes in hand and bowed their heads and raised their black-
`gloved fists in silent protest during the playing of the national anthem, an
`act meant to stand up for human rights and to stand up for black
`Americans.[20]
`
`Puma-sponsored gold
`medalist Tommie Smith
`(center) and bronze
`medalist John Carlos (right)
`showing the raised fist at
`the 1968 Summer Olympics
`
`World Cup and the Pelé Pact
`A few months prior to the 1970 FIFA World Cup, Armin Dassler (Rudolf's son) of Puma and his cousin
`Horst Dassler (Adi's son) of Adidas sealed an agreement which was dubbed "The Pelé Pact".[21] This
`agreement dictated that Pelé would be out of bounds for both Adidas and Puma, feeling that a bidding
`war for the most famous athlete in the world would become too expensive, only for Puma to break the
`pact and sign him.[22][23]
`
`In addition to paying Pelé a percentage of Puma King boot sales, Puma paid him $120,000 ($2.85
`million in 2022) to tie his laces prior to Brazil's quarter-final game against Peru to advertise their
`boots.[24][25] An idea conceived by Puma's representative Hans Henningsen, Pelé stopped the referee
`from starting the game with a last-second request to tie his shoelaces, and with the camera panning in
`on Pelé, the Puma King boots were broadcast to a global audience, generating enormous publicity for
`the brand.[23][24]
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`The most notable event in the Dassler brothers feud, the breaking of the "Pelé Pact" outraged Horst,
`and future peace agreements were called off.[21][22] The Puma deal for Pelé was praised as a shrewd
`marketing move, and many business experts credit the rivalry and competition between the two
`companies for transforming sports apparel into a highly-lucrative industry.[24]
`
`Later events
`During the 1972 Summer Olympics, Puma provided shoes for the Ugandan 400 metres hurdles
`champion, John Akii-Bua. After Akii-Bua was forced out of Uganda by its military government, Puma
`employed him in Germany. Eventually, Akii-Bua returned to Uganda.[26]
`
`Puma launched the Puma Clyde in 1973, a basketball shoe based on the Suede. Designed for
`basketball player Walt "Clyde" Frazier, it gained wide popularity and became significant in the old
`school hip hop and skate punk subcultures.[27][28]
`
`Going public
`Puma became a public company in 1986,[29] and thereafter was listed on the Börse München and
`Frankfurt Stock Exchange; its first profit since the IPO was registered in 1994.[30] In May 1989,
`Rudolf's sons Armin and Gerd Dassler sold their 72 percent stake in Puma to Swiss business Cosa
`Liebermann SA.[31] The company acquired Scandinavian Tretorn Group in 2001, later sold to
`Authentic Brands Group in 2015.[32] For the fiscal year 2003, the company had revenue of
`€1.274 billion, and majority shareholder Monarchy/Regency sold its shareholdings to a broad base of
`institutional investors.[33]
`
`In February 2007, Puma reported that its profits had fallen by 26% to €32.8 million ($43 million;
`£22 million) during the final three months of 2006. Most of the decline in profits was due to higher
`costs linked to its expansion; sales rose by more than a third to €480.6 million.[34] In early April,
`Puma's shares rose €29.25 per share, or about 10.2%, to €315.24 per share.[35] On 10 April, the
`French conglomerate PPR (which became Kering in 2013) announced that it had bought a 27% stake
`in Puma, clearing the way for a full takeover. The deal valued Puma at €5.3 billion. PPR said that it
`would launch a friendly takeover of Puma, worth €330 a share, once the acquisition of the smaller
`stake was completed. The board of Puma welcomed the move, saying it was fair and in the firm's best
`interests. As of July 2007, PPR owned over 60% of Puma stock.[36]
`
`In 2008, Melody Harris-Jensbach was appointed deputy chief executive officer; designer and artist
`Hussein Chalayan became creative director,[37] and Puma acquired a majority stake in Chalayan's
`fashion business.[38]
`
`2010 onward
`In 2010, Puma acquired Cobra Golf, and took over bodywear and socks company Dobotex the
`following year.[39][40] In July 2011, the company completed a conversion from an Aktiengesellschaft
`(German public limited company) to a Societas Europaea, the European Union-wide equivalent,
`changing its name from Puma AG Rudolf Dassler Sport to Puma SE.[41] At the same time, Franz Koch
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`replaced the long-serving Jochen Zeitz as the firm's chief executive
`officer (CEO), with Zeitz becoming chairman.[42] The company
`has been led by former football professional Bjørn Gulden since 1
`July 2013. Arne Freundt was appointed CEO in November
`2022.[43]
`
`Since 2018, the Boycott, Divestment and Sanctions (BDS)
`movement has called for a boycott of Puma over its sponsorship of
`the Israel Football Association and demanded that the company
`"end complicity with the Israeli colonial and apartheid regime." The BDS campaign also stated that
`Puma contracted with an Israeli distributor operating in illegal Israeli settlements in the West
`Bank.[44] Puma will end its sponsorship of the Israel national football team in 2024.[45][46]
`
`A Puma Street Yaam
`
`Finances
`
`Puma has been a public company since 1986, listed on the
`Frankfurt Stock Exchange. French luxury group Kering (formerly
`known as PPR) holds 9.8%, Kering's largest shareholder Groupe
`Artemis owns 29% of the share capital.[47]
`
`Puma ranks as one of the top shoe brands with Adidas and
`Nike,[8] and employs more than 18,000 people worldwide.[5] The
`company has corporate offices around the world, including four
`defined as
`"central hubs": Assembly Row, Somerville,
`Massachusetts;[48] Hong Kong; Ho Chi Minh City, Vietnam; and
`global headquarters in Herzogenaurach, Germany.[49]
`
`Puma store in Hong Kong
`
`Year
`Revenue
`Net Income
`Assets
`Employees
`
`2013
`2,985
`5
`2,309
`10,750
`
`2014
`2,972
`64
`2,550
`10,830
`
`2015
`3,387
`37
`2,620
`11,351
`
`Financial data in € millions[50]
`2016
`2017
`2018
`2019
`3,627
`4,136
`4,648
`5,502
`62
`136
`187
`262
`2,765
`2,854
`3,207
`4,378
`11,495
`11,787
`12,894
`14,332
`
`2020
`5,234
`79
`4,684
`14,374
`
`2021
`6,805
`310
`5,728
`16,125
`
`2022
`8,465
`353
`6,772
`18,071
`
`2023
`8,601
`304.9
`6,640
`18,681
`
`Sponsorships
`
`International footballers Neymar, retired Gianluigi Buffon, retired Sergio Agüero, Antoine
`Griezmann, Marco Reus, Raphael Varane, Luis Suárez, retired David Silva, retired Vincent Kompany,
`Sunil Chhetri, Christian Pulisic, Yann Sommer, Jonas Hofmann, Wataru Endo, Kaoru Mitoma and
`more sport Puma football boots.[51]
`
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`Puma holds a 5% stake in German football club
`Borussia Dortmund, and has been its supplier
`since 2012.[52] In 2014, Puma and Arsenal
`Football Club entered a 5-year merchandising
`partnership, the biggest deal in Puma and
`Arsenal's history.[53] The partnership ended in
`2019. Other football clubs include Barrow A.F.C.,
`Manchester City F.C., Fenerbahçe
`S.K.,
`Galatasaray S.K., Olympique de Marseille,
`Sociedade Esportiva
`Palmeiras, Borussia
`Mönchengladbach, Lillestrøm SK, Valencia CF,
`AC Milan, Peñarol, US Sassuolo, Club de Fútbol
`Monterrey, Bengaluru FC, Chennaiyin FC, Mumbai City FC, Universidad Católica, Universitatea
`Craiova, Kawasaki Frontale, Yokohama FC, Shimizu S-Pulse, Cerezo Osaka and many others. National
`football teams include Guinea, Ghana, Ivory Coast, Iceland, New Zealand, Senegal, Switzerland,
`Austria, Morocco and Egypt.[54]
`
`Austrian Cup
`football ball
`
`Puma goalkeeper gloves
`
`In athletics (track and field), Puma sponsors the athletic associations for
`Brazil (CBAt),[55] Jamaica (JAAA), Cuba (FCA), The Bahamas (BAAA),
`Grenada (GAA), Trinidad & Tobago (NAAATT), Dominica (DAAA),
`Barbados (AAB), Portugal (FPAtletismo), Switzerland (Swiss Athletics),
`and Norway (NFIF).[56] It also has Jamaican sprinter Usain Bolt, under
`contract along with other track and field athletes like Andre De Grasse,
`Karsten Warholm, and Gianmarco Tamberi. Several world records were
`achieved by athletes wearing Puma shoes, such as Heinz Futterer (1954),
`Armin Hary (1960), Jim Hines (1968), Tommie Smith (1968), Asafa
`Powell (2015), and Usain Bolt (2002).[57][58]
`
`In 2018, Puma announced its entrance back into basketball after a break
`of almost 20 years, and appointed Jay-Z as the division's creative
`director.[59][60] Marvin Bagley III, Deandre Ayton, Zhaire Smith, and
`Michael Porter Jr. are the first players to join Puma's basketball roster
`and play in performance Puma basketball shoes.[61][62] In December
`2021, the brand launched High Court, its first women's basketball line,
`designed by creative director June Ambrose.[63]
`
`Usain Bolt in his Puma
`track uniform
`
`Puma made its partnership with netball after 28 years by sponsoring the Melbourne Vixens in 2018,
`and became the official apparel sponsor of New Zealand's national netball team, the Silver
`Ferns.[64][65] Golfers such as Rickie Fowler and Lexi Thompson are equipped by Puma's golf brand
`Cobra Golf.[66][67][68]
`
`Puma is the main producer of enthusiast driving shoes and race suits and entered a partnership with
`BMW, Ducati and Ferrari to make their respective shoes.[69] In Formula 1, Puma equips the teams of
`Mercedes AMG Petronas, Scuderia Ferrari, Stake Kick Sauber, and Williams. They also equipped Red
`Bull Racing until 2022.[70][71] In 2024 Puma became the official Formula 1 trackside vendor and
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`personnel supplier, and also became an official partner of F1
`Academy.[72][73] The company sponsors BMW, Mercedes and
`Porsche in all of their Motorsports activities.[74] In NASCAR,
`Puma equips Team Penske with fire suits, gloves, and shoes.[75]
`
`Rihanna was named creative director
`of Puma's womenswear
`line
`in
`December 2014.[76] Two years later,
`Puma partnered with The Weeknd as
`a creative collaborator.[77] In 2018,
`Puma launched its venture with its ambassador Selena Gomez called
`"Phenom Lux''[78][79] In 2019, Big Sean became Puma's brand
`ambassador.[80] Puma has also partnered with LaMelo Ball, NBA athlete,
`in 2020 to create a line including sports, culture, music and fashion.
`
`Aurelia Nobels driving Puma's F1
`Academy car
`
`In 2024, Puma appointed Milind Soman as its running ambassador.[81]
`The same year, Sekou became the brand's ambassador.[82] Later in June,
`Rosé becomes Puma's brand ambassador.[83]
`
`Labour practices and factory conditions
`
`Rihanna at Fenty X Puma
`fashion show
`
`In 2000, Puma began auditing all of its suppliers on a yearly basis, and makes the results available in
`its sustainability reports. Since 2005, it has publicly provided a list of its suppliers.[84]
`
`In August 2004, a joint report from the National Labor Committee and China Labor Watch stated that
`workers at some of Puma's Chinese factories were enduring sweatshop conditions, working up to 16.5
`hours per day for about US$0.31 an hour. Puma said it would investigate the claims.[85]
`
`In February 2012, a woman who worked for one of Puma's suppliers in Cambodia was shot during a
`protest over factory working conditions. Puma acknowledged the poor working conditions and said it
`would work to improve the situation.[86]
`
`According to a joint report from Labour Behind the Label and Community Legal Education Centre, 30
`workers fainted in November 2012 while producing clothing for Puma in China. The faintings were
`caused by excessive heat and alleged forced overtime.[87][88] In 2014, almost 120 workers fainted in
`two Cambodian clothing factories where sportswear was being produced for Puma and Adidas, due to
`temperatures above 100 degrees Fahrenheit (38 °C).[88][89] In March 2017, 150 workers assembling
`Puma products in Cambodia fainted due to thick smoke.[90]
`
`Puma has obtained the Ethical Clothing Australia accreditation for its Australian-made products.[91]
`This labour-friendly accreditation applies to only a small percentage of Puma's total production.
`
`In 2020, the Australian Strategic Policy Institute accused at least 82 major brands, including Puma, of
`being connected to forced Uyghur labor in Xinjiang.[92] In 2022, researchers from Nordhausen
`University of Applied Sciences identified cotton from Xinjiang in Puma shirts.[93]
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`Research of the social democratic party in the European Parliament, the Sheffield Hallam University
`and further groups showed in December 2023 Puma is using Uyghur forced labour in camps provided
`by the Anhui Hunao Group Co. ltd for production.[94]
`
`Environmental practices
`
`In May 2011, English newspaper The Guardian stated that Puma was the "world's first major
`company to put a value on its environmental impact" and that Puma "has made a commitment that
`within four years, half its international collections will be manufactured according to its internal
`sustainability standard, by using more sustainable materials such as recycled polyester, as well as
`ensuring its suppliers develop more sustainable materials and products."[95]
`
`Puma is also known for boosting positive environmental practices in its supply chain through
`financial incentives. The supply chain finance scheme implemented links the sustainability
`performance of key suppliers to the costs at which they can access finance. Puma managed to limit the
`carbon emissions that emanate from its supply chain through employing more eco-friendly and less
`carbon intensive materials.[96] The system won the company an "Innovation Award" in Supply Chain
`Finance in 2016.[97]
`
`Puma managed to reduce its own carbon emissions worldwide by 88% between 2017 and 2021.[96]
`This was mainly facilitated through buying renewable energy or renewable energy certificates.[96]
`
`In 2023, Puma announced that it would stop using kangaroo leather in its products, including its
`redesigned KING football boot, which features uppers containing at
`least 20% recycled
`material.[98][99] Also, in April 2023, Puma announced its new sustainable initiative, Voices of a
`Re:Generation, which aims to develop the brand's 'sustainable journey' through involving the
`'recommendations' and 'perspectives' of the next generation.[100][101][102]
`
`In January 2024, the fashion Energy Report of Utility Bidder, a utility switching service, categorized
`Puma as the 'most sustainable brand' with a high sustainability rating, a high level of transparency,
`and a low amount of CO2 produced when someone visits their website.[103]
`
`References
`
`1. "Our Management" (https://about.puma.com/en/this-is-puma/our-management). Puma SE.
`Archived (https://web.archive.org/web/20230930163605/https://about.puma.com/en/this-is-puma/o
`ur-management) from the original on 30 September 2023. Retrieved 17 January 2024.
`2. "Puma Share" (https://about.puma.com/en/investor-relations/share). Retrieved 30 October 2024.
`3. "Puma Annual Result 2023" (https://annual-report.puma.com/2023/en/). Retrieved 30 October
`2024.
`4. Nina Nix, Chief Executive Officer of stichd (2 July 2019). "Stepping out of the shadows: our proud
`new brand stichd" (https://www.puma-catchup.com/stepping-out-of-the-shadows-our-proud-new-br
`and-stichd/). PUMA CATch up. Archived (https://web.archive.org/web/20220213191827/https://ww
`w.puma-catchup.com/stepping-out-of-the-shadows-our-proud-new-brand-stichd/) from the original
`on 13 February 2022. Retrieved 26 February 2022.
`
`https://en.wikipedia.org/wiki/Puma_(brand)
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`5. "Puma Annual Report 2022" (https://about.puma.com/en/investor-relations/financial-reports).
`Archived (https://web.archive.org/web/20221003123301/https://about.puma.com/en/investor-relati
`ons/financial-reports) from the original on 3 October 2022. Retrieved 5 December 2022.
`6. "Kering Finance Puma" (https://web.archive.org/web/20181224200722/http://www.kering.com/en/fi
`nance/distribution-puma). Archived from the original (http://www.kering.com/en/finance/distribution
`-puma) on 24 December 2018. Retrieved 20 June 2018.
`7. Puma company profile (https://craft.co/puma) Archived (https://web.archive.org/web/20201029163
`705/https://craft.co/puma) 29 October 2020 at the Wayback Machine craft.co. Retrieved 5
`September 2021
`8. Maguire, Lucy (7 February 2022). "CEO Bjørn Gulden on the big Puma comeback" (https://web.ar
`chive.org/web/20220207075923/https://www.voguebusiness.com/companies/ceo-bjorn-gulden-on-
`the-big-puma-comeback). Vogue Business. Archived from the original (https://www.voguebusines
`s.com/companies/ceo-bjorn-gulden-on-the-big-puma-comeback) on 7 February 2022. Retrieved
`15 June 2022.
`9. Smit 2009, p. 33.
`10. "The History of Adidas and Puma" (http://www.newsweek.com/history-adidas-and-puma-86373).
`Newsweek. 13 April 2008. Archived (https://web.archive.org/web/20150817061824/http://www.ne
`wsweek.com/history-adidas-and-puma-86373) from the original on 17 August 2015. Retrieved
`1 September 2015.
`11. Smit 2009, p. 6.
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