Puma sees sales rise, attributes growth to Rihanna
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Puma SE Thursday said its fourth-quarter sales rose 11.5%, after the athletic-apparel maker improved its standing in its sought-after female customer base with a strong celebrity endorsement.
Puma attributed the significant sales growth to its multiyear partnership with Barbadian pop star Rihanna which began in late 2014. The terms of the agreement weren't disclosed at the time but the company had stated earlier in the year that it wanted to boost its standing in the female consumer market. Sneakers designed by Rihanna went on sale in the second half of 2015.
The pop star's first collection for Puma—called Fenty Puma by Rihanna—made its debut at New York fashion week in early February and was applauded by fashion critics.
Rihanna is currently the best celebrity endorsement hire in the sporting goods industry, according to data, said NPD analyst Matt Powell.
In recent years, Puma has been working to recover from a period of dwindling sales and a fading image. Analysts blamed the company's poor performance on its over-focus on lifestyle shoes and apparel resulting in the brand losing significance in the performance segment.
