So, this Fenty x Puma thing is working out pretty well . . .
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The Herzogenaurach, Germany-based firm, which is controlled by French group Kering, said net earnings rose 4 percent to 25.8 million euros, or $28.5 million, in the three months ended March 31.
Total sales were up 3.7 percent to 851.9 million euros, or $939.7 million, with footwear the main driver. On currency-adjusted terms, the gain stood at 7.3 percent, in line with analysts’ expectations.
Puma singled out the Creeper and the Fenty trainer as highlights, which both sold out within weeks or days. A new style introduced by Rihanna last week, the Fenty slide sandal with a furry interior, “blew out in minutes,” according to Bjørn Gulden, CEO of Puma SE.
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Rihanna's got the phones ringing off the hook! According to Bjorn Gulden, PUMA CEO . . .
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“For the first time, retailers are calling us asking to be our distributors again. These are high-end department stores and there are many. This is the first time at least since I’ve been here that this has happened.”
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Fenty outchea giving men a helping hand . . .
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The biggest challenge for Puma remains getting adequate space in retail to showcase its styles and innovations. Particularly in North America, the executive acknowledged “deficits against local brands on the performance side,” typically a men’s territory. “Under Armour is very strong there. But some 87 percent of their business is in the U.S. They have the space, so when the sell-through is good, they grow. Ironically, our women’s business [pushed by lifestyle and training products associated with Rihanna and Kylie Jenner] is helping to open doors for men’s,” he noted.
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