Puma, maker of sneakers, sportswear and fashion apparel, has unveiled a redesign with a new 5,300-square-foot flagship inCity's Union Square that opened in early October.
Puma opened another store with the samein Portland, Ore. and will open a handful more before the end of the year. Globally, the $3 billion company plans to triple its store count to 240 from 80 by 2010, according to Michael Specht, Puma International's global head of retail. Sales in the first half of 2006 were $1.76 billion; up 16 percent over the same period a year ago.
Puma is looking at the top 50 MSAs in the U.S. for new stores and is looking primarily at 5,000-square-foot locations in urban sites and lifestyle centers. “It's not just demographics, but also pyschographics that we're looking at,” says Tom Ulrich, Puma North America Inc.'s senior vice president of retail. Ulrich is heading the company's U.S. expansion, working with retail consultant Greenberg Group. It currently operates 40 U.S. stores.
Puma wants to be in locations within close proximity to retailers such as Apple and Pac Sun. Puma also sees its revamped retail stores as a way to improve its wholesale business.