PUMA to Reenter the Basketball Market
A direct challenge to adidas and Nike.
After focusing on soccer and track athletes, PUMA is returning to the hardwood. The German company announced plans to reenter the basketball sector, hinting at plans that seek to compete with Nike, Under Armour and adidas. PUMA officially left the sport 17 years ago, and currently makes most of its footwear sales in Europe, but plans to link with athletes and celebrities affiliated with the sport as it prepares to compete in the American sneaker market. China, with its growing basketball fanbase, is another major target for PUMA’s new initiative.
Stay tuned for concrete information on PUMA’s new plans. Meanwhile, Nike’s shares rose despite a near-billion-dollar loss last fiscal quarter.
