Puma Group's gross profit worldwide from 1993 to 2023

Sportswear firm Puma made a gross profit of nearly four billion euros in 2023, an increase of over 80 million euros on the previous year. Global sales of Puma footwear, apparel, and accessories amounted to approximately 8.6 billion euros that year.

Why has Puma’s gross profit increased so much recently?

Apart from 2020 when the pandemic hit the retail sector hard, Puma’s gross profit has increased year-on-year since 2014, and especially in the last few years. Improved sales of new products is likely to have contributed to the rising profit: apparel sales increased by 380 million euros between 2021 and 2022. Efficiencies in the sourcing of key materials such as leather, cotton, and polyester may have contributed to a higher gross profit margin. Asia is the company’s strongest sourcing region, with 95 percent of suppliers located on the continent.

The growing importance of the Asia/Pacific region

Some of the most important sourcing countries to Puma are all in Asia: Vietnam, China, Cambodia, Bangladesh, Indonesia, and India. The region is crucial for the sourcing of materials and is also developing into a key market for sales. Driven by an accelerating market in China, sales in the EMEA region increased consistently since 2020, accounting for about 21 percent of the company's Group sales in 2023.