Puma has decided to shift their attention from pitching its shoes and clothing to hipsters in bars and bowling alleys to focusing now on bona fide athletes.
In a new ad that Puma is calling “Forever Fast”, Puma has put together some of their top athletes including sprinter Usain Bolt, golfer Lexi Thompson and soccer star Mario Balotelli, featuring each in situations that emphasize both their athletic prowess and their lives off the field.
Puma “wanted to reposition itself as a sports-performance brand rather than the casual thing it was,” said Julian Easthope, a Barclays Capital analyst who recommends selling the shares. “They definitely needed to do something to revitalize themselves around the sporting side of things because they’d lost their edge.”
Chief Executive Officer of Puma, Bjoern Gulden is seeking to inject some new spark into Puma where profit this year is expected to be about a third of what it was a decade ago. “Without the solid grounding in sports, we weren’t really resonating with our customers,” said Adam Petrick, Puma’s marketing director.
Puma is “investing in sports to win back credibility and shelf space,” said Volker Bosse, an analyst at Baader Bank AG, who has a hold rating on the company. Forever Faster, which Puma says is its biggest campaign in at least a decade, exhorts consumers to rethink perceptions.
What do you think about Puma’s new campaign? Will it make you try out some Puma kicks if you haven’t done so already?