Double-digit growth for Puma in third quarter
At the end of a positive quarter for Kering, Puma too has something to shout about. The group led by French businessman François-Henri Pinault has in fact reported double-digit growth across all major geographical areas for its sport-lifestyle brand.
At the end of the third quarter, Kering recorded a 6.5% revenue increase for its Sport & Lifestyle division compared to the same period last year, reaching €1.064 billion. In like-for-like terms, the increase was 9.3%. Altogether the division lost 3% in like-for-like terms in Japan, but grew by 11% in western Europe, by 7% in North America, by 13% in Asia-Pacific and by 14% in the rest of the world.
Specifically, the division's performance was clearly driven by Puma, whose sales rose by 8.3% to €994 million (+10.8% in like-for-like terms). The German brand is enjoying a runaway success with its shoes (+17% in like-for-like terms), especially the Ignite Dual, Fierce and Fenty models. Meanwhile, its apparel sales grew by 10% and accessories lost 2%.
Within the group, the 'other brands' segment, with Volcom, is struggling however. In the quarter, revenue fell in fact by 13.6%, down to €70 million (-7.7% in like-for-like terms). The situation is linked to the significant difficulties that retailers of action-sports brands are experiencing in the USA.
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