Puma, the global sports lifestyle company, plans to ramp up its presence in the Indian market by opening large format stores in Tier-II towns (as rentals are viable) and create brand awareness.
According to Rajiv Mehta, managing director, Puma India, the brand registered a growth of 30-35 per cent and it expects to grow at a faster pace in the coming year.
Talking to the media on the sidelines of the launch of its largest store in the country in Chandigarh, he said the focus on the market activities in the coming months to create brand awareness was on the company’s radar.
“The astronomical rent costs in metro towns and burgeoning purchasing power of residents in Tier -II towns are the driving forces for opening the first large format store in Chandigarh,” he said. He added that despite inflation, the demand for luxury apparel has not been effected much. The festival season (August-December), he said helps them clock in 55% of the annual sales.
The Director at Kapsons, Vipin Kapoor, the Master Franchise for Puma India in north, told that growing brand awareness among the mass premium young buyers provides a good opportunity to garment retailers. The demand, he said was growing consistently, not effected much by the slowdown in economy.
