Puma Q1 sales grew 25.8 per cent currency adjusted (ca) to € 1,549 million. Its gross margin grew by 48.5 per cent while operating expenses (OPEX) increase by only 8.6 per cent. Wholesale business increased by 24.3 per cent (ca) to € 1,202.0 million, despite lockdown-related store closures in several markets and supply chain constraints in North America. The Direct to Consumer business (DTC), which includes owned and operated retail stores as well as e-commerce, increased by 31.3 per cent (ca) to € 346.8 million, driven by strong growth in e-commerce of 74.9 per cent (ca).
During the quarter Puma launched the She Moves Us communication platform to celebrate women. It also unveiled the Only See Great brand campaign to spark optimism and self-belief. Alonwith Neymar Jr, the brand launched a new Creativity collection, featuring the Future Z 1.1 football boot as well as shorts, training accessories and off-pitch apparel. Its new Re:Gen collection regenerates textile industry waste into new products.