Jiemian News Reporter | Shi Yiying
Competition in the domestic sports consumer market has become more intense, especially in the running and basketball market segments, which account for the highest proportions.
In September this year, major sports brands launched new products, including jackets, down jackets and other items, targeting the autumn and winter market. After the National Day holiday, new running shoes products will be released immediately, and they are all highly related to marathon events.
German sports brand PUMA released the Deviate Nitro 3 racing carbon plate running shoes in the marathon six-star Grand Slam color scheme in early to mid-October. The midsole of this running shoe uses PUMA’s exclusive Nitro nitrogen midsole, which can provide 90% energy return.
In fact, the competition among major sports brands in running shoes and midsole technology has been extremely fierce in recent years. After all, midsole technology like boost can almost reverse the decline of tens of billions of dollars in sports brands.
In 2023, after a change of global management and Greater China management, we delivered a report card of 8.6017 billion euros (approximately RMB 67.14 billion), a year-on-year increase of 6.6%. Among the current global sports brands, PUMA still ranks among the top five.
In the Chinese market, PUMA has recorded positive growth for six consecutive quarters, and the growth rate of the Chinese market also leads its global markets.
This year, PUMA, like lululemon, is hitting the revenue target of tens of billions of dollars. Last year, the annual revenue of both companies exceeded 70 billion yuan. However, there are still big differences between major sports brands in terms of brand and product tonality.
After last year’s global adjustment, PUMA is still focusing on professional sports categories. Running and basketball are the segments that the brand focuses on in both the global market and the Chinese market, while professional segments such as racing are unique to PUMA. Some advantageous market segments, in addition, in the two emerging segments of golf and tennis, PUMA mainly competes in the golf product market.
While launching new marathon six-star Grand Slam color matching running shoes, PUMA also made gains in the basketball market, signing NBA star Tyrese Haliburton. This post-2000 star has been selected to the All-Star twice and is the 2023 -The NBA assists leader in the 2024 season, and won the men’s basketball gold medal at the Paris Olympics with the US team this summer.
PUMA returns to the basketball category in 2018. At present, from a global perspectiveNikeThe advantage in basketball is still obvious. Adidas and PUMA have been constantly fighting for market share in recent years. In addition, New Balance has also joined the competition in the basketball market.
In the Chinese market, competition in the basketball segment is even more intense, with domestic sports brands Anta andLi NingSeizing the mid-range basketball shoe market, 361° is sinking even further.
includeNikeJordan brand, PUMA and other international brands, basketball footwear products in the Chinese market still rely on the midsole technology and footwear design provided by the global headquarters. For these international sporting goods giants, it is currently difficult to truly complete research and development and design of sports footwear midsole technology that requires high-precision technology in the Chinese market.
Therefore, in the basketball market segment, the main job of these international sports brands in the Chinese market is marketing and promotion. Unlike running shoe promotion, which mainly focuses on mass runners, star spokespersons in the basketball market are very popular. The basketball stars signed by PUMA in China include CBA star and national player Zhao Jiwei, and Chinese female basketball player Zhang Ru. This year, they have recently signed three young rookies, Wang Lanyi, Jiang Weize and Zou Yang. In October, PUMA released the first pair of personal PE sneakers customized for Zhao Jiwei.
However, during the summer when the Chinese market is particularly busy during the star tour of China, PUMA is slightly quiet, but it lacks an NBA star to lead the lineup. PUMA signed Haliburton at this time. On the one hand, it needs the popularity of this two-time NBA All-Star player. On the other hand, it should also be interested in the development of this young rookie. In 2024, when LeBron James, Kevin Durant, Stephen Curry and others are approaching the 40-year-old mark, the global basketball market and the NBA are waiting for the rise of the next batch of superstars.
In September this year, PUMA global CEO Arne Freundt came to the Chinese market. While affirming the performance of the Chinese market, the youngest CEO of the global sportswear giant also marveled at the rapid changes in the Chinese market, saying that “the market competition here is very fierce.” , consumption trends are changing rapidly, and consumer expectations are high.”
Arne Freundt told Jiemian News: “We attach great importance to Chinese consumers, and we also need to transform consumer insights into popular products. Therefore, we have also increased investment in design and research and development.”
From a complete management change at the beginning of 2023, delivering a revenue report of nearly 10 billion US dollars at a growth rate of 7%, to signing BLACKPINK member ROS Park Chaeyoung as a global brand spokesperson in the middle of this year, and then continuing to increase investment in the global and Chinese markets. , basketball and other key categories, at least from the beginning of the last quarter of 2024, PUMA has completed its reorganization and is running in a positive cycle.
(Article source: Jiemian News)
Article source: Jiemian News
Original title: PUMA wants to increase its firepower in the professional sports market
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