Introduction The following is an analysis of the Puma brand as well as a report of market and industry trends for the company. Puma is a German based company that focuses on selling athletic and fashionable footwear, apparel, and accessories. From the research and analysis in this report, this is intended to lay the groundwork for creating a unique communicative strategy for Puma. Company/Brand History & Evaluation Puma is one of the leading sportswear companies in the world; however, its inception originated due to a simple feud between the Dassler brothers, Adolf and Rudolph. The pair began their company in Herzogenaurach, Germany in 1924, and named it Gebrüder Dassler Schuhfabrik (Dassler Brothers Shoe Factory). Originally, the brothers started by making slippers and outdoor shoes, but shifted to producing athletic shoes. The company began to take off during the 1928 Olympics in Amsterdam when athletes were seen wearing Dassler shoes, but it wasn t until the 1936 Berlin Olympics that Dassler had an international breakthrough; seven gold medals and five bronze medals were won sporting Dassler spikes. Unfortunately, the rising success of the company could not mend the tensions between Adolf and Rudolph. They disagreed on everything, but most notably on the company s future, and split in 1948. Rudolph moved across the Aurach River to begin his own company called Puma Schuhfabrik Rudolf Dassler (currently known as Puma). Adolf also stuck to crafting athletic shoes, and created his company name by combining his nickname Adi and the beginning of his last name Das to form what is now known as Adidas. Puma continued to expand, positioning itself as one of the leading sportswear providers, in the world and is responsible for the first soccer boot named the Atom. Other innovations include the Super Atom (the world s first boot with screw-in studs) and the vulcanization production technique which bonds a shoe s sole and shaft together. Today, Puma specializes in three brand categories: footwear, apparel, and accessories. The company provides equipment and performance gear in soccer, running, training and fitness, golf, and motorsports. Their slogan, The fastest sports brand in the world is centered around the iconic black puma which has been the company s official logo since 1967. Additionally, Puma is known for endorsing and collaborating with famous athletes and celebrities such as Usian Bolt, Serena Williams, Rihanna, and Kylie Jenner. Puma distributes its products to over 120 countries and employs more than 10,000 people worldwide. ( PUMA Official Online Store, 2016) Product Evaluation
Puma s large variety of products, most of which are branded with the company s distinctive logo, can be divided into the categories of footwear, clothing, and accessories. For the most part, Puma is known for their athletic clothing and athletic shoes, but the company s products extend much further; for instance, in the footwear department, Puma also manufactures fashionable shoes like sneakers and suedes and even delves into the more niche market of driving shoes. Also, on top of making athletic clothing one would wear while working out, Puma also produces polos for both men and women, tops, and golf pants ( PUMA Official Online Store, 2016). Because of Puma s wide breadth of products, the company caters to both the active, sports-oriented individual and the fashion savvy individual. As such, the company offers some products that tend to be more athlete-focused, such as running shoes, and some products that are more fashion-focused, such as suedes ( PUMA Official Online Store, 2016). This presents a unique opportunity for Puma, as fortunately for the company, there is a growing trend known as athleisure, which is when a person wears athletic clothing in a casual, non-athletic environment (Holmes, 2015). And since Puma is already marketed as both an athletic and fashionable product, much of Puma s athlete-focused merchandise should also appeal to the fashion conscious individual. Puma and its products, including the ones mentioned above, are often affiliated with prestige and luxury; this can be seen by the company s partnerships with prominent sports figures like Usain Bolt, sports teams like Italy s national soccer team, celebrities like Rihanna, and brands like Ferrari. This can also be seen by the type of products the company makes; for example, Puma produces quality track jackets, polos, and golf and ballerina shoes. In fact, the sports for which Puma manufactures products tend to be sports that are affiliated with high amounts of class like golf, tennis, and motor racing. This also means, however, that Puma tends to cater toward upper class and upper-middle class individuals, making its products fairly expensive ( PUMA Official Online Store, 2016). This, stiff competition from competitors for similar demographics, and the fact that the sports for which Puma manufactures products tend to be more European ( 25 World's Most Popular Sports ), makes increasing Puma s market share a growing dilemma, especially in the United States. In regards to branding, manufacturing, and packaging, most of Puma s products come emblazoned with the company s distinctive logo of a puma jumping. This image presents a unique opportunity for the company, as it can conjure a wide variety of thoughts ranging from strength and agility to sleekness and sexiness, all of which play into the feelings that the company wants its customers to feel when the use its products ( PUMA Official Online Store, 2016). Specifically regarding the process by which its products are made, packaged, and distributed, Puma is dedicated to becoming an environmentally sustainable company, and as such, their products are packaged in an environmentally conscious company. This can be seen by the company s sustainability initiative it launched in 2010, which aimed to reduce its waste by 25% by 2015 ( PUMA's New Packaging and Distribution System, 2010).
In conclusion, Puma offers an athletic and fashionable product that is recognizable and prestigious. The growth of athleisure apparel presents a very unique and profitable opportunity for the company, as it is seen as more fashionable than its competitors, and the Puma name and logo seem to be a rather untapped opportunity as of late, as it works well with the athletic yet fashionable clothing the company provides. However, Puma products tend to be quite expensive, and the competition in the industry is fierce, which presents difficulties in reaching new markets, especially in the United States. Consumer Evaluation Puma products are equated with prestige and luxury; people who buy the products normally fall into the upper class or upper-middle class and want the most quality product money can buy. They are used widely by people ages 16-34 (Kahute,2006). Puma uses celebrities such as Rihanna and Kylie Jenner, athletes such as Usain Bolt and Serena Williams, and even companies like Ferrari to endorse their products. This shows Puma consumers want to exude confidence, work diligently to achieve their goals, and maintain a stylish and reputable image. People who wear Puma products want to be confident in the brand they choose, and they expect their products to last, just as their longstanding history and reputation has for 68 years (Puma History, 2016). These consumers also have certain goals they want to obtain, and they expect Puma to assist in reaching them, whether that be enhancing athletic performance or achieving an effortlessly sleek appearance. For instance, with Puma the fastest sports brand in the world, the athletes look to translate the image into tangible results. Maintaining a stylish and reputable image is also a major reason why consumers chose Puma. Because Puma crafts some more fashionable products than its competitors, the consumers who choose Puma tend to be more fashion-savvy. These people care deeply about their appearance and individual brand image, and Puma provides products that help them achieve this image. Puma uses celebrities and athletes to endorse their products such as Usain Bolt, Rihanna, and Kylie Jenner. Puma was not always the first brand that came to mind when thinking of running or active apparel. In 2008, Puma changed their image to reach others and have a more competitive edge. They wanted to be known as the fastest shoe brand in the industry (Puma, Strategy, 2016). They helped this campaign by endorsing Usain Bolt, the World s fastest runner. Usain wore Puma shoes in the Olympics and that skyrocketed sales when he won. They endorsed shoes lines in tennis, motocross, boating, golf, and soccer. There is a puma shoe for almost every sport, from simply running and track, to being on the green and golfing. This is an easy way to reach active men. Puma also came out with a clothing line of shirts, pants, socks, headbands, ext. This really appealed to active women when trying to find workout clothes. Now with Rihanna and Kylie endorsing the product, girls are more likely to buy more Puma clothes. Puma has proclaimed a new the future is female campaign which focuses on women after signing up brand ambassador Rihanna. (Chapman, 2016). This campaign focuses on appealing to women and how they have evolved over time. Women were not always as involved with sports
and athletic wear, and now they are just as active, if not more, than men. This campaign helps indicate that women are still, and will still be evolving in the future and years to come. Puma shoes are mostly distributed to multi-brand store fronts as well as exclusive Puma stores that can be found in major cities around the world. ( Puma Opens Multi-Branded Store in New York Meatpacking District, 2005). Puma products are available almost everywhere, which allows the company to provide a wide variety of products to its consumers. A large portion of these consumers live in either cities or suburbs. Living in cities tends to be expensive, requiring residents to earn a higher income to accommodate their style of living. For instance, to live comfortably in cities like Houston and New York, residents need to make a higher income than in rural areas. This can be seen by the fact that the average income in these areas is $122,448 to $169,944 (Elkins, 2015). As such, in cities Puma products can typically be found in large stores or even Puma specific stores, where prices tend to be higher. These expensive prices coincide with the luxurious and prestigious image that Puma is trying to create. On the other hand, while suburban consumers typically purchase Puma products in large stores, they do not have the option to purchase Puma products in Puma s specific stores. Also, suburban consumers often purchase Puma shoes for running; suburbs present more outdoor running opportunities and the consumer needs good shoes to withstand these conditions. In conclusion, Puma is using their brand image and distribution methods to increase sales. Puma products can be easily found throughout the U.S. in many different physical stores as well online sites. This makes the product easily accessible for customers no matter where they may be. Brand Imaging puts a twist on the modern product and helps consumers relate the brand to whom is wearing the product. When consumers see people they idolize wearing a certain brand, they are more likely to purchase that brand. Competitive Evaluation Puma Market Shares & Competition: Puma has been expanding its business in the sportswear industry through athletic apparel, footwear and accessories. At the same time, they have been known as one of the world s leading athletic brands with operating retail stores and product distribution around the world. However, Puma runs into competition from some of the largest corporations with various business markets. Nike, Adidas, Reebok and Puma currently dominate the sportswear industry in the United States. Athletic Shoe Store Industry: This industry is based off of retailers that sell athletic shoes and apparel in the United States. The major players in this group that compete with Puma are Nike and Adidas. Some of the major products and services that are provided in this industry are men, women s and children s shoes. The primary activities that consumers primarily purchase these products are for sneakers, running shoes, basketball shoes and other related apparel or accessories (IbisWorld 2016).
Key Competitors-Direct: Nike Estimated Market Share: 16.6% Nike is a clear leader in the sportswear industry. Along with being the world s largest sporting goods maker, Nike is well positioned in designing, developing and selling an array of products and services for athletes. Their products are primarily made to help consumers in running, playing sports, training and other physical activities. A huge concern that Puma and other athleticwear businesses have is that since Nike is a top brand, many consumers are loyal to their products and only want to buy Nike footwear. While generating $30.6 billion in consolidated revenue, Nike serves as Puma s most challenging competition in the industry. In addition, Nike s athletic footwear and apparel sales are estimated to increase at a 13.8% rate to total $2.4 billion in fiscal 2016 revenue (IbisWorld 2016).
Adidas Estimated Market Share: 6.5% Adidas is a German multinational corporation that designs and manufactures athletic apparel and footwear. They are also a holding company of Reebok, which is an American-inspired brand that sells athletic apparel. Adidas is headquartered in Herzogenaurach, Germany and operates 2,722 stores for both brands. Since their market growth is directly behind Nike, Adidas is the second largest sportswear manufacturer in the world. Their brand focuses on ways to help athletes perform, play and feel better. Adidas sales are estimated to increase at an 8.6% rate to total $942.4 million in 2016 (IbisWorld 2016). Key Competitors-Indirect: LuluLemon Athletica Lululemon Athletica is a designer, distributor and retailer of technical athletic apparel that sells its products for yoga, running, training and other physical activities. Their company offers a variation of apparel and accessories for women, men and female children. Some of their accessories include an array of items such as socks, yoga mats, water bottles and bags. Non-athletic footwear brands As Puma focuses on their clear objective to become the leading sportswear brand in the world, they have to keep competitors with a slightly different product and service in mind. These com-
panies, known as indirect competition, are popular brands that can play a huge effect on Puma s sales. Some of Puma s indirect competition is L.L Bean, Patagonia and Columbia. These competitors have a high brand awareness and brand loyalty for products that strictly involve outdoor activities. Such products include apparel, footwear and accessories for hiking, fishing, hunting and other outdoor activities. Conclusion: In comparison to its competitors, Puma is one of the dominating players in the United States for designing, developing, selling and marketing footwear, apparel and accessories. They offer a sport-inspired lifestyle through products that are primarily focused on targeting young adults. However, Puma faces challenging competitors in their market, such as Adidas, Reebok and Nike, that can slow down their goals of expanding into the leading company in the sportswear industry. Environmental Impact and Competitor Outlook: Puma became a carbon-neutral company in 2010 and is working to lessen the amount of carbon emissions at production sites to 0% by 2020 (PUMA, 2016). This environmentally considerate strategy is appealing to consumers who care about the planet and its natural ecosystems. This campaign could help in Puma s sales and reputation as a wholesome company who cares about its impact in the world, rather than the profits it can make. Adidas has a team whose job is to conduct audits of their factories and work with the owners and managers of each store to comply with global labor standards. They are also involved with the Fair Labor Association to ensure independent factory audits are ran and encourage their employees to report anonymously any abuses or complaints they have with the company. Apparently this strategy has been very successful. Adidas also has a detailed five-year plan to decrease their carbon footprint and environmental impact by 2020, the same as Puma, and have aimed to reduce its footprint by 30% by 2015. Adidas also has many corporate volunteer programs and have spent millions on a broad range of initiatives in the developing world specializing in child welfare, sports programs, and education (English, 2013). Similarly, Under Armour refuses to work with any company who conduct child labor, forced labor, discrimination and poor health and safety standards (English, 2013). Every factory in Central America and Asia promise the minimum wage to employees and compensate overtime workers. This is information that influences consumer spending. Under Armour also has a eco-friendly clothing line that is one of the most impressive collections seen. Under Armour is a contributor to Big Belly, an organization that installs solar power trash compactors around in the Under Armour s hometown. (English, 2013) This type of contribution to the community enhances the Under Armour image and mission to provide and care for consumers. The company often has a clothing line that donates profits to specific causes. This type of philanthropy boosts the morale of the company and the company s consumers. Conclusion:
The carbon-neutrality mission could enrich the perspective of Puma consumers and should be brought to the light in future campaigns. Displaying progress, analyzing how far Puma has to go and explaining benefits to the planet could help consumers get on board with Puma s mission. Marketing Environment Evaluation Considering the variety of athletic products that Puma creates, it s important to analyze the different factors that contribute to consumer spending, market demands and trends. We must look at the patterns of consumer spending, what the economy is like for athletic gear companies, and make well-studied predictions for what the future holds for the market. We already know that the Puma consumer has a fairly expendable income, as Puma s prices are aimed for the upper-middle to high-class individual. We also know that the consumer is athletic or into the athletic aesthetic. This analysis reviews the amount of money spent in the U.S. athletic market between 2002 and 2015. Predictive Market Trends: The timeline below (Figure 1) represents the consumer purchases of sports footwear as a whole in the U.S. from 2002 to 2015. Last year, 20.99 billion US dollars were spent in America on footwear. That is a 6.85 billion dollar increase since 2002. The market had slow and steady increases between 2002 and 2007 and an irregular decrease between 2008 and 2010. The purchases of sports footwear only increased steadily from 2010 to 2015. This is an import an observation in the market trend.
Figure 2 depicts the total amount of sports clothing purchased in America between 2009 and 2015. In 2015, 14.59 billion US dollars were spent on athletic clothing, a 1.59 billion dollar increase since 2009. This information shows us that there s still a demand for athletic clothing, but that demand has not increased significantly in recent years. Nonetheless, the demand for athletic clothing is still increasing at a steady rate. The graph in Figure 3 shows the total of sporting goods consumed in America between 2002 and 2015. The last year on the graph shows that 64.8 billion US dollars were spent in 2015 on sport-
ing goods, a 19.08 billion dollar increase since 2002. Based on the many years analyzed in this research, we can assume that the demand for sporting goods will increase rapidly in the future years. This is significant data that can help us fulfill Puma s objective. These statistics apply to the entire population of consumers who purchase athletic gear and apparel in the United States. The Consumer: According to a survey conducted by SportsOneSource, out of 50 brands, Puma was the sixth most bought brand by men in America in 2014, following Nike, Adidas, Under Armour, New Balance and Reebok. (in-text citation). According to Puma s dossier, American men s favorite brand for athletic apparel in 2012 was Nike, followed by brands that were not mentioned on the survey, Adidas, Under Armour, not having a favorite brand, Reebok, Champion, Puma and then Hanes. SportsOneSource conducted the same survey with women in America and found that Puma was the fourth most bought brand following Nike, Adidas and Reebok. (in-text citation). However, Puma believes that The Future is Female (in-text citation). According to its strategic plan in becoming the fastest sports brand in the world, Puma is focusing its advertising on the female target group. The market segment of female consumers has been rising for years for the purchase of sports products. Women will only continue to get more involved in the sports world and that s why Puma hired Rihanna as an ambassador for women s style and products. According to Andrew Soergel, an economy reporter for U.S. News and World Report, the U.S. consumer was still making pretty good money in the fourth quarter of 2015 insinuating that more Americans are continuing to put money aside in their savings account rather than splurging after payday. The Bureau of Economic Analysis found that personal income raised 0.3 percent in November and December and 0.4 in October. In the span of 2015, compensation rose 4.5 percent, just shy of the 2014 s 4.4 percent. These compensations to U.S. employees reached an all-time high. This doesn t mean that these gains resulted in further consumer spending. Real personal consumption rose only 3.1 percent on the year and climbed only 0.1 percent in December. Americans combined personal savings rose to $36 billion U.S. dollars in January of 2016. These statistics show us that the U.S. economy is not limiting Puma consumers from purchasing luxury goods. Operating Segments: In 2015, Puma s external sales totaled to 3,387.4 million euros worldwide, 1,191.4 million euros of which were gained in the Americas. Puma invested 25.4 million euros that year in sales in the Americas. That year, sales for footwear amounted to 1,506.1 million euros, apparel amounted to 1,244.8, and accessories amounted to 636.4 million euros. Conclusion:
Though there was a very small decline in sales of athletic footwear between 2007 and 2009, looking at Figure 1 we can assume that the demand for athletic footwear will continue to rise around 1 billion US dollars every year. Figure 2 displays fairly stagnant, but slowly increasing, data that shows consumers are not purchasing more athletic clothes in recent years. Consumers are still, however, purchasing around 13-14 billion US dollars worth of athletic clothing, however the demand for it is not increasing significantly. Figure 3 shows us what consumers are buying most and that is sporting goods, such as athletic equipment. We can assume based on this graph that consumers will only continue to buy sporting goods, with around a 3 billion dollar increase every year. Based on the data collected from Puma s annual report, we can see that the majority of the profit made is on footwear and apparel sales. Less than a third of Puma sales were made on sporting goods. However, sporting goods are in the highest demand for athletic consumers, perhaps Puma should focus on amplifying its image as a sporting goods producer for the near future. SWOT Analysis Strengths: Extensive Product Range: Puma designs a range of products spanning across different sporting areas. These areas include football, running, training and fitness, golf and motorsports. The company categorizes these sporting areas into apparel, footwear and accessories. Puma s footwear inspires a sport lifestyle that is available for both, men and women. In addition, the company offers apparel for sporting activities and casual wear. Puma segments their apparel into jackets, polo and tops, caps and beanies, bottoms, hoodies and vests. They also offer a wide range of accessories such as bags, gloves, wallets, phone cases and socks. All of these product categories help achieve revenues for the company. For example, Puma received 43.3% of its revenues from its footwear department, 37.1% from apparel and 19.7% from accessories in fiscal year 2014 (PUMA SE, 18). Strong Market Position: Puma is known as one of the world s top leading sport brands that designs, develops, sells and markets apparel, footwear and accessories. The company is an established global grand with high financial growth. In 2015, Puma was ranked as one of the top 50 German brands by an industry source (PUMA SE, 18). While operating in more than 40 countries worldwide with over 600 stores, Puma also does an excellent job in creating brand enhancing shopping experiences for their customers. In addition, Puma has over 2000 franchise stores in 60 countries worldwide. Overall, Puma is an emotionally trusted and credible brand that devotes a majority of time and effort to providing functional products for their customers. Strong Brand Identity with Consumers: Puma s brand recognition is incredibly trademarked worldwide. The company s jumping cat acknowledges Puma as an upscale department store that sells high quality products. In addition, Puma holds a superior reputation for their product quality, customer services and innova-
tions. With a clear marketing strategy as the Fastest Sports Brand in the World, Puma continues to impress their customers with reputable product innovation. Weaknesses: Finances Puma is not as financially sound as other industry leaders which refrains the company from making investments in new products, technology, and advertising (MBASkool, 2016). Price Puma s merchandise is more expensive in comparison to their competitors such as Nike, Adidas, and Under Armour; therefore, Puma loses potential customers who fall into the middle or lower-middle class ( PUMA Official Online Store, 2016). Opportunities: The growing popularity of Soccer in the United States As mentioned in the product evaluation section of this piece, Puma s products tend to cater toward more European sports and markets. For instance, Puma manufactures many prestigious soccer related items. And with soccer s popularity growing in the United States, this presents a chance for Puma to grow its market (Mullinnix, 2016). The growth of the athleisure trend Athleisure clothing, or clothing that can be used for exercising or casual use, has become a staple to the clothing industry, and it is quickly growing. In fact, active wear clothing is now stealing market share from non-athletic wear (Weinswig, 2016). With Puma producing both active and fashionable clothing, the company has a distinct opportunity of which to take advantage. Threats: Competition Puma is rivaled by large companies such as Nike, Adidas, and Under Armour making it hard to establish brand loyalty and recognition Weak Economy Athletic wear is considered a luxury expense and is likely to be substituted for cheaper alternatives during economic downtowns Research Questions As mentioned several times throughout this analysis, Puma has begun partnerships with several prestigious figures like Rihanna, Usain Bolt, Serena Williams, and Kylie Jenner. Puma also has stated that the company would like to better reach out to women, claiming, the future is female. (Chapman, 2016). Two of the newest partnerships Puma has created is with Rihanna
and Kylie Jenner, and this research proposes to look at how effective these partnerships have been and propose potential ways to enhance them. So: RQ1: How effective is Puma s partnerships with Rihanna and Kylie Jenner at attracting the young female demographic, and should more, similar partnerships be made. And if so, with whom? Puma s distinctive logo depicting a puma jumping is very unique compared to its major competitors logos. The feline predator conjures images of strength, agility, speed, and perhaps even sexiness. And since Puma would like to appeal more directly to women, this research proposes analyzing women s attitudes toward the current logo and ways that it can be enhanced or utilized more efficiently. Therefore: RQ2: Of Puma and its major competitors, which logo do women find preferable and why? What can be done to make the Puma logo more appealing to women? As people and organizations become ever more connected because of the internet, opportunities to reach consumers from via new platforms have emerged. Twitter, Instagram, Facebook, Snapchat, etc. are all ways for an organization like Puma to increase its brand awareness. This research proposes examining the most effective way for Puma to manage its social media presence and maintain a uniformed voice throughout. Thus: RQ3: Would having a distinct and unique voice on social media result in increased brand awareness? And if so, what style of voice should be used?
References By 1962 Puma shoes were exported to almost 100 countries around the world. (n.d.). Puma AG Rudolf Dassler Sport. Retrieved October 02, 2016, from http://www.fundinguniverse.- com/company-histories/puma-ag-rudolf-dassler-sport-history/ Carter, B. (2016). Athletic Shoe Stores in the US. Retrieved October 9, 2016. Chapman, M. (2016). Puma proclaims future is female as sales by Rihanna partnership. Retrieved October 8, 2016, from http://www.campaignlive.co.uk/article/1384098/puma-proclaims-future-female-sales-boosted- rihanna-partnership Consumer purchases of sporting goods in the U.S. from 2002 to 2015 (in billion U.S. dollars)* (n.d.). National Sporting Goods Association. InStatista - The Statistics Portal. Retrieved October 8, 2016, from https://www.statista.com/statistics/200773/sporting-goods-consumer-purchases-in-the-us-since-2004/. Consumer purchases of sports clothing in the United States from 2009 to 2015 (in billion U.S. dollars)* (n.d.). National Sporting Goods Association. In Statista - The Statistics Portal. Retrieved October 10, 2016, from https://www.statista.com/statistics/200803/sportsclothing-expenditures-in-the-us-since-2004/. Consumer purchases of sports footwear in the U.S. from 2002 to 2015 (in billion U.S. dollars)* (n.d.). National Sporting Goods Association. InStatista - The Statistics Portal. Retrieved October 8, 2016, from https://www.statista.com/statistics/200802/sports-footwear-consumer-purchases-in-the-us-since-2004/. Elkins, K. (2015). Here s how much money you need to earn to live comfortably in 15 major U.S. cities while still saving money. Retrieved October 10, 2016, from http://www.businessinsider.com/salary-to-live-in-major-us-cities-2015-8 English, N. (2013). The 14 Athletic Wear Companies That Are Actually Good for the World. Retrieved October 10, 2016, from http://greatist.com/fitness/athletic-wear-companies-socialgood Have you purchased products from one or more of the following sporting goods brands over the past year?* (n.d.). SportsOneSource. InStatista - The Statistics Portal. Retrieved October 8, 2016, from https://www.statista.com/statistics/305839/male-brand-purchasing-top-25- sporting-brands/. History. (n.d.). Puma. Retrieved October 02, 2016, from http://about.puma.com/en/this-is-puma/ history Holmes, E. (2015). Athleisure: A Workout Look for Every Occasion. Retrieved October 03, 2016, from http://www.wsj.com/video/athleisure-a-workout-look-for-every-occasion/ D0174829-3288-40F1-9E12-0F420E38AA9A.html Kahute, T. (2006). Puma Brand Analysis. Retrieved October 4, 2016, from https://www.scribd.com/document/35130565/puma-brand-analysis Mullinnix, T. (2016). The State of US Soccer; Another popularity spike, or here to stay? Retrieved October 03, 2016, from http://www.dynamotheory.com/2016/7/1/12067492/thestate-of-us-soccer-another-popularity-spike-or-here-to-stay PUMA Annual Report Forever Faster PUMA. (n.d.). Retrieved October 10, 2016, from http:// report.puma-annual-report.com/en/
Puma History. Retrieved October 4, 2016, from http://about.puma.com/en/this-is-puma/history PUMA's New Packaging and Distribution System to Save More than 60% of Paper and Water Annually. (2010, April 13). Retrieved October 03, 2016, from http://about.puma.com/en/ newsroom/corporate-news/2010/april/pumas-new-packaging-and-distribution-systen-tosave-more-than-60-percent-of-paper-and-water-annually Puma opens multi-branded store in New York MeatPacking District. (2005). Retrieved October 6, 2016 from http://about.puma.com/en/newsroom/corporate-news/2005/march/pumaopens-multi-branded- store-in-new-york PUMA SE. (2015). PUMA SE MarketLine Company Profile, 18. Puma - Statista Dossier. (n.d.). Retrieved October 10, 2016, from https://www.statista.com/topics/1360/puma/ Puma Strategy. Retrieved October 6, 2016, from http://about.puma.com/en/sustainability/strategy Rankin, J., Davis, H., & Aversa, J. (2016). Personal Income and Outlays, August 2016. Retrieved October 10, 2016, from http://www.bea.gov/newsreleases/national/pi/pinewsrelease.htm Shoes, Clothing and Sportswear - PUMA Official Online Store. (2016). Retrieved October 03, 2016, from http://us.puma.com/en_us/home Soergel, A. (2016, February 1). More Money Doesn't Mean More Spending for U.S. Consumers. Retrieved October 9, 2016, from http://www.usnews.com/news/articles/2016-02-01/ more-money-doesnt-mean-more-spending-for-us-consumers Sporting goods brands ranked by brand awareness* amongst US females in 2014 (n.d.). SportsOneSource. In Statista - The Statistics Portal. Retrieved October 8, 2016, from https:// www.statista.com/statistics/306043/womens-brand-awareness-top-25-sporting-goodsbrands/. Strategy. (2016). Retrieved October 10, 2016, from http://about.puma.com/en/this-is-puma/strategy Weinswig, D. (2016,). How 'Athleisure' Is Lighting Up Lackluster Clothing Sales. Retrieved October 03, 2016, from http://www.forbes.com/sites/deborahweinswig/2016/03/11/how-athleisure-is-lighting-up-lackluster-clothing-sales/#73490dc75684 25 World's Most Popular Sports (Ranked by 13 factors). (n.d.). Retrieved October 03, 2016, from http://www.totalsportek.com/most-popular-sports/