Puma provided lots of positive news its third-quarter earnings yesterday (October 24, 2017), reporting sales up 17 percent driven by double-digit growth in all regions globally. Results were robust enough that the company raised guidance for the full year.
Within the women’s category, the brand highlighted campaigns featuring Cara Delevingne, Kylie Jenner and New York City Ballet dancers. The brand also called out strong demand for its Basket Heart and Ignite Limitless silhouettes.
In a question and answer session following the earnings announcement, CEO Bjørn Gulden noted the quarter’s numbers were strengthened by Rihanna‘s fall collection, adding that in her two years with Puma, her offerings achieved “substantial sales,” which were better than the company initially had anticipated, adding, ““We’re all surprised on how much she was selling. I’m very, very happy about that.”
Perhaps attempting to soften the end of Puma’s relationship, Gulden said while sales of the Fenty line were noteworthy, they were overall a small percentage of sales. “It’s not like the company total revenue is dependent on it,” said Gulden.
Still the CEO conceded that Rihanna’s impact on Puma is bigger than just product. “Rihanna’s relationship with us makes the brand actual and hot again with young consumers,” said Gulden, who added, “Rihanna is an icon. She’s one of the most creative people on this planet.”
While Puma’s partnership with Rihanna has been a very beneficial one, Rihanna recently let it be known that her spring 2018 presentation would mark the end of her relationship with the brand.
