Puma CEO Warns of Slow Start to 2021, Good Second Half

The CEO of Puma discusses the impact of COVID-19 on market demand, emphasizing the challenges posed by lockdowns. He highlights the importance of strategic partnerships and staying relevant in sports fashion. The conversation also covers the shift to online sales, the direct-to-consumer strategy, and the historical rivalry with Adidas.

What is one of the main challenges Puma faces in increasing demand during the pandemic?

• Lack of interest in sports

• Store closures due to lockdowns

• High production costs

• Competition from new brands

According to the CEO, what is crucial for Puma to drive growth?

• Increasing advertising budget

• Signing contracts with big soccer teams

• Expanding into new markets

• Reducing product prices

What is a key factor for Puma to stay relevant in the market?

• Offering the lowest prices

• Having the right partners

• Focusing solely on online sales

• Expanding into new sports

What has been a significant trend in consumer behavior during the pandemic?

• Preference for luxury brands

• Decline in online shopping

• Shift towards leisurewear

• Increased demand for formal wear

What is a challenge mentioned by the CEO regarding the shift to online sales?

• Lack of customer interest

• Limited product range

• Inadequate logistics

• High advertising costs

What percentage of Puma's business is aimed to be direct-to-consumer?

• 70%

• 50%

• 30%

• 10%

What is the historical relationship between Puma and Adidas?

• They were founded by brothers

• They have no historical connection

• They are part of the same company

• They were founded by the same person