Puma aims for organic growth
28/10/2010
Net income reached EUR 77.6 million.
Chief executive, Jochen Zeitz, said on announcing the results that the outlook for revenue growth is even better in the fourth quarter and that sales will continue rising at a “high single-digit” pace until 2015.
Part of Puma’s plan for future growth is to take full control of its Chinese retail joint venture in January by acquiring the 49% minority stake. It aims to make China its biggest emerging market.
Mr Zeitz said the company will consider making acquisitions, though growth will mostly be achieved organically. He said the brand would not be lowering the prices of its shoes and apparel next year.
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