PUMA sets up 100% subsidiary in Romania

Bucharest, November 16, 2007

Sportlifestyle company PUMA® moves into Romanian market by establishing own subsidiary PUMA SPORTS ROMANIA

 

The Sportlifestyle company PUMA announces today that it has set up the 100% owned subsidiary PUMA SPORTS ROMANIA, based in Bucharest, which will become operative on January 1, 2008 as the company continues to further expand globally in Phase IV of its long-term development plan.

PUMA’s sportlifestyle products have been sold in Romania through its current distributor Mexxem since 1999 and Mexxem will continue to operate the business until PUMA is fully operational in January 2008. Mexxem will remain a valued retail partner for PUMA in Romania.

Jochen Zeitz, Chairman and CEO: “PUMA SPORTS ROMANIA will ensure to strengthen PUMA’ s position as one of the leading Sportlifestyle companies and to capture all current Romanian market opportunities. With our new subsidiary PUMA accelerates its regional expansion and explores the brand potential in the Romanian market in the coming years.”

PUMA SPORTS ROMANIA’s new offices were already opened at Pipera Tunari 1 in Bucharest. The opening of a showroom which permanently displays the latest PUMA Sportlifestyle collections will follow in December. In order to expand its business in the Romanian market, PUMA plans to open further PUMA stores in addition to the one scheduled to open for beginning 2008 in Constanta’s City Park Mall.