Plans retail expansion with 30-35 per cent market share.
German sportswear giant Puma, is all set to compete strongly with well established players including Adidas, Reebok and Nike in performance segment. In order to capture the market, the brand plans to expand its retail presence across the country and in turn hike market share. Puma looks at adding add 40 new stores to it’s the existing number of 270 by 2013-end. The expansion is aimed at tier-II and tier-III cities as the demand grows in developing markets. The brand will explore 5-6 new cities and grow its reach to 81 cities. The announcement was made at the launch of its performance running shoe, which claims to expand and contract as the foot moves. Rajiv Mehta, MD, Puma India believes that the new products which have a lifestyle quotient with performance being core will help the brand gain increase the market share of the traditional competitors including Nike, Adidas and Reebok. Around 15 percent of Puma’s annual revenues are derived from e-commerce platforms.