Puma India has been witnessing strong growth in the Indian market and will be investing to expand its retail presence across India to maintain its dominant position in the country.
The company will be opening as many as 20 new stores before the end of this year and also expand its presence in neighbouring countries like Bangladesh and Nepal.
Puma sees India as an important market with huge growth potential and will continue to invest heavily in the country.
“We currently have 360 exclusive stores and 3,100 PoS (points-of-sale) in India. We will add another 20 new stores of 1,500 to 1,800 square feet in 2019. We opened our first flagship store in Dhaka, Bangladesh, one of the biggest in Southeast Asia and currently have three stores in Nepal,” Puma India’s managing director Abhishek Ganguly told the Hindu paper.
“Our brand presence in the market is extremely compelling, achieving strong double-digit growth in the last 2-3 years. While we continued the growth trajectory in 2018 with a strong 21% growth, our direct-to-consumer e-commerce business has also grown the fastest in the same year,” Ganguly added.
Puma currently has 365 stores in 125 cities across India. It also sells online through its own website and other leading e-commerce platforms.