Copyright-PUMA
HERZOGENAURACH, GERMANY, MAY 14, 2013
TRADING ENVIRONMENT DENTS PUMA’S FIRST QUARTER SALES AND PROFIT

2013 FIRST QUARTER FACTS

  • Consolidated sales fall by 2.3% currency adjusted to € 782 million
  • EPS reduced from € 4.92 to € 3.36
  • Transformation and Cost Reduction Program on track
  • New Chief Executive Officer Björn Gulden appointed
  • PUMA partner Borussia Dortmund reaches Champions League final

Michael Laemmermann, Chief Financial Officer of PUMA SE: “In the current challenging business climate, especially in Europe and in Asia, we are continuing to implement our Transformation and Cost Reduction Program aimed at improving efficiencies and our cost base. This will increase PUMA’s profitability in the long-term. Confirming our increased focus on Performance, PUMA’s visibility and credibility as a premium football brand have been further enhanced with Borussia Dortmund’s progress to the Champions League final.”

SALES PERFORMANCE BY REGION

BUSINESS CLIMATE IN EUROPE REMAINS CHALLENGING

Sportlifestyle company PUMA recorded a decline in first quarter sales as Eurozone retail spending continued to weaken and sales in Asia were affected by an unusually long winter. Sales fell by 2.3% in currency adjusted terms to € 782 million when compared to the first quarter of 2012.

PUMA’s sales in the Americas improved by 1.8% currency adjusted to € 260 million. There were strong performances in Mexico and Brazil, where Teamsport was bolstered by Rio de Janeiro soccer club Botafogo, and Argentina, where Lifestyle collections are resonating well. Our Cobra PUMA Golf division continues to deliver outstanding results, which is also reflected in rising sales in North America.

Sales in the EMEA region were impacted in particular by the softening in retail spending, exacerbated be the unusually long winter, and fell by 4.8% currency adjusted to € 348 million.

Strong performances in Russia, Turkey and the D-A-CH region, where classic footwear models such as the Suede and new Motorsport apparel lines resonated well, could not completely offset weak performances in Italy and France. Steadfastly high levels of unemployment in the southern regions of the Eurozone added to the difficult retail environment.

In the Asia/Pacific region, sales declined by 2.9% currency adjusted to € 173 million. India, supported by excellent sales in Running and Teamsports, and Australia delivered positive performances which could not quite offset the less satisfactory numbers from Japan, where there was an unusually harsh winter, and China, where Fitness & Training products in particular did not perform as expected.

SATISFYING RETAIL PERFORMANCE

PUMA’s Retail sales increased by 13.9% currency adjusted to € 135 million, representing a 17.3% share of total sales. This rise in sales was supported by excellent results from our e-commerce business, particularly in North America.
 

SALES PERFORMANCE BY SEGMENT

LACK OF SPORTING EVENTS IMPACTS FOOTWEAR SALES; MOBIUM ON THE RISE

In the first quarter of 2013, Accessories performed exceptionally well during the first three months of 2013, rising by 11.9% currency adjusted to € 152 million. This outstanding performance was once again led by Cobra PUMA Golf and our North American joint venture for socks and bodywear.

Apparel sales declined modestly in the first quarter by 1.1% currency adjusted to € 256 million. Although Fundamentals were lower, Cobra PUMA Golf and Running continued to perform well. In Teamsport, the spotlight remains firmly on our most successful team, Borussia Dortmund, whose journey to this season’s Champions League final at the end of May has captured the imagination of football fans around the world underlining PUMA’s position as a premium football brand.

PUMA has also recently successfully introduced its ISPO award winning PUMA ACTV and RCVR performance apparel. By fusing compression technology with inbuilt athletic taping, ACTV and RCVR apparel increase the body’s performance and improve its recovery times, taking this category to the next level.

Footwear sales declined by 7.8% currency adjusted to € 373 million. The decline was caused in part by the Teamsport category, which did not perform as well in a non-event year, and Training & Fitness was impacted by the shrinking demand for toning products. In Lifestyle PUMA’s new range of Suede and Archive Lite Models were very well received, with our Future Suede Lite and TX-3 shoes resonating extremely well with consumers in the Asia/Pacific region.

Following the launch of “The Nature of Performance” brand platform to revitalize our Performance categories, PUMA Running was invigorated by our new Adaptive Running shoe, the PUMA Mobium Elite. The Mobium Elite is delivering encouraging sell-through in many markets, including the United States and Asia/Pacific region.

TRANSFORMATION PROGRAM BEING IMPLEMENTED ACCORDING TO PLAN

The implementation of PUMA’s Transformation Program continued during the first quarter. The set up of PUMA’s new Business Unit, supported by our Performance and Lifestyle pillars, is now complete and the evolution to a market and consumer focused organization continues. Each of PUMA’s six Business Units will be managed by one fully accountable Business Unit General Manager. Each team is wholly situated at one location to be able to react faster to consumer trends and optimize each team’s efforts. PUMA’s European consolidation of 23 countries into 7 areas is also on track, with our D-A-CH and Iberia areas now established. In retail, 45 underperforming stores were closed by the end of the first quarter.

PUMA will continue to execute on all of the measures set out under the Transformation and Cost Reduction Program in 2012 in order to benefit the Company in both the mid- and long-term.
 

MARGIN, EXPENSES AND PROFITABILITY

GROSS PROFIT MARGIN SOFTENS TO 49.1%

PUMA’s gross profit margin fell from 51.2% to 49.1% year on year. Pressure on the gross profit margin in the first quarter came in the most part from two sources: Substantial currency headwinds due to the negative hedging position in the first quarter of 2013 compared to the same period last year, and also continued inventory management with a particular focus on Footwear, combined with higher input costs. As a consequence, Footwear margins dropped from 49.5% to 46.1% and Apparel retreated from 53.5% to 51.5%, while Accessories improved from 51.9% to 52.6%.

OPEX DECREASE AS A RESULT OF THE TRANSFORMATION AND COST REDUCTION PROGRAM

The broad approach undertaken to reduce costs by PUMA under both programs enabled the Company to reduce operating expenditure in nearly all areas, resulting in a decrease in OPEX of 3.9% to € 310 million.

OPERATING RESULT (EBIT) IMPACTED BY DROP IN GROSS PROFIT MARGIN

Despite the cost savings achieved by the measures undertaken under the Cost Reduction Program, operating profit declined in the first three months of 2013 from € 102 million to € 79 million due to the decline in sales and gross profit margin. As a consequence, the EBIT ratio decreased from 12.4% last year to 10.1% this year.

FINANCIAL RESULT DECLINES

The financial result declined from € 1.1 million to € -4.0 million in the first quarter, due mainly to negative currency conversion impacts.

EARNINGS BEFORE TAXES (EBT) RETREAT

PUMA’s EBT for the first quarter declined to € 75 million in 2013 compared to € 103 million in 2012, representing 9.6% of sales compared to 12.6% for the same period last year. Consequently, tax expenses abated from € 28 million to € 22 million, representing a tax rate of 29.3% versus 27.1% for the first quarter of 2012.

NET EARNINGS SOFTEN

Consolidated net earnings dropped by 32.0% from € 74 million to € 50 million. Earnings per share therefore also fell back from € 4.92 in 2012 to € 3.36 in the first quarter of 2013.
 

NET ASSETS AND FINANCIAL POSITION

EQUITY CONTINUES TO STRENGTHEN

PUMA’s equity base continued to strengthen, with the equity ratio moving up slightly from 66.4% to 66.7% compared to the first quarter of 2012. Shareholder’s equity is now equivalent to € 1,676 million, up from € 1,652 million.

WORKING CAPITAL INCREASES

PUMA’s overall Working Capital increased by 7.0% to € 775 million due to the reduction of working capital related liabilities. A continued strong emphasis on inventory management resulted in almost flat stock levels at € 592 million. Trade receivables declined by 4.3% to € 594 million, due to the lower revenues in the quarter.

CASHFLOW / CAPEX

The Free Cashflow improved from € -200 million last year to € -154 million this year due to lower payments for acquisitions in spite of the decline in earnings before tax.

Capex declined from € 14 million to € 9 million, which was mainly invested in the opening and refitting of selected retail stores as well as office and IT equipment.

CASH POSITION IMPROVED

PUMA’s net cash position improved slightly from € 203 million to € 207 million at the end of the first quarter.
 

GENERAL MATTERS

NEW CHIEF EXECUTIVE OFFICER APPOINTED

PUMA SE’s Administrative Board appointed Björn Gulden as PUMA’s new Chief Executive Officer (CEO), effective 1 July 2013. Björn brings to PUMA an extensive international experience of nearly 20 years in the sporting goods and footwear industry, where he has held a variety of senior management positions.

OUTLOOK FOR THE FINANCIAL YEAR 2013

In view of PUMA’s first quarter results and of continuing economic uncertainty in certain key markets, Management now expects a low- to mid-single-digit decline in currency-adjusted full-year net sales. This forecast represents a slight downward revision compared to the guidance provided with the 2012 full-year results.

Management reiterates its expectations for continued pressure on the gross profit margin. Under these circumstances, PUMA is also unlikely to meet its original guidance of low- to mid-single-digit growth in EBIT before special items. However, PUMA’s Management confirms that it expects net earnings to increase compared to the 2012 level.

Photo Credits: Conné/ PUMA

PUMA Store on Fifth Avenue in New York City
WESTFORD, MASSACHUSETTS - AUGUST 29, 2019
PUMA’S NEW NYC FLAGSHIP STORE SEAMLESSLY INTEGRATES TECHNOLOGY, ART, AND MUSIC FOR A ONE-OF-A-KIND RETAIL EXPERIENCE

Customized Studio and tech-driven engagement zones provide consumers a shopping experience unlike anything they've seen before

PUMA opens the doors to its first-ever North American flagship store today, located at 609 Fifth Avenue in New York City. With a focus on cutting-edge technology and products, the store showcases an immersive PUMA brand space—offering consumers a unique shopping experience through innovative sports engagement zones, a customization studio and digitally connected offerings. The store features 18,000 square feet of interactive retail space spanning two floors, with state-of-the-art double-height storefronts across 160 feet of wraparound frontage. 

PUMA Store on Fifth Avenue in New York City

“PUMA is thrilled to open its first flagship in New York City, in a prime Manhattan location, that will allow us to connect with both our U.S. and international customers,” said Bjoern Gulden Chief Executive Officer of PUMA SE. “I believe investing in this new store—in one of the fastest paced cities in the world—will help us in our pursuit to be the fastest sports brand in the world. We’re committed to pushing the boundaries of sports, fashion and technology, and this store is the latest manifestation of that commitment.”

 

PUMA Store on Fifth Avenue in New York City
  • PUMA has partnered with renowned artists and designers to bring its exclusive PUMA x YOU customization studio to the store. Consumers can customize and personalize PUMA footwear, apparel and accessories using paints, dips, dyes, patchwork, embroidery, 3D-knitting, laser printing, pinning, material upcycling, and many other creative mediums. New artist residencies begin every two weeks — including collaboration partners like Sue Tsai, BWOOD, Maria Jahnkoy, Même. and Pintrill, with additional artists announced later this year.
     
PUMA Store on Fifth Avenue in New York City
  • Beginning Labor Day weekend with the kings of customization, the store will launch ‘Chinatown Market University, where store patrons will be able to customize their PUMA apparel, footwear and accessories using Chinatown Market’s state-of-the-art printing technology. The Chinatown Market team will also be teaching classes around various DIY and customization methods to help inspire the next generation of creatives. Beyond the flagship store, Chinatown Market University, a program being launched in collaboration with PUMA, will pop up in various forms through 2020.  
     

“PUMA continues to see solid growth within North America and this new store reaffirms our commitment to this important market,” said Bob Philion, President of PUMA North America. “From visitors that come to experience this iconic city, to lifelong New Yorkers, we’re excited to open our doors in a vibrant and diverse community that aligns with our ‘Forever Faster’ mentality.”  

Throughout the year, the New York flagship will also feature exclusive collections designed by select brand ambassadors and athletes, and host unique events and experiences authentic to New York City. The flagship store will carry the full range of PUMA products including lifestyle, basketball, motorsport, golf, performance, soccer and kids.

Consumers can experience the store’s unique offerings during the grand opening weekend, August 29 through September 2, with events which include in-store performances, fitness activations and exclusive opening weekend merchandise.

The PUMA Fifth Avenue store will be open Monday – Sunday 10 a.m. – 8 p.m. For more information please visit puma.com.  

 

PUMA Store on Fifth Avenue in New York City
  • Within PUMA’s new store, customers can view products in alternate colors and styles through iMirror by NOBAL placed throughout the store. Mirror allows RFID product to bring up alternative selections based on the item the consumer tries on. In addition, consumers can press a button to notify an associate they need help at the mirror and sign up for in-store events.
  • Consumers can kick back and enjoy the stadium seating and large screen NBA2K gaming experience in the basketball zone as well. The basketball zone is also going to feature state-of-the-art technology including QR codes located on all products. 
     
Jan Oblak
HERZOGENAURACH - FEBRUARY 11, 2019
PUMA FOOTBALL SIGN THE WORLD’S MOST EXPENSIVE GOALKEEPER JAN OBLAK

PUMA Football has signed a long term partnership with Jan Oblak, the most expensive goalkeeper in the world, who joins an extensive list of world class goalkeepers wearing the sports company’s performance footwear and equipment.

Jan Oblak

Oblak has establish himself as one of the world’s leading goalkeepers, being voted the Spanish league’s best goalkeeper three times in a row. He achieved 100 career clean sheets in 178 games and since his transfer to Madrid in 2014, he has kept more clean sheets (79) than any other goalkeeper in Europe’s top five leagues.

In recognition of his achievements, Oblak’s club contract includes a €100 million buy-out clause – making him technically the world’s most expensive goalkeeper. 

Jan Oblak
Jan Oblak in numbers;
  • For three seasons in a row (2015/16, 2016/17 & 2017/18), Oblak has won the Ricardo Zamora Trophy, awarded to the goalkeeper who concedes the fewest goals in the Spanish league.
  • In the calendar year 2018, Oblak played 27 games from 50 without conceding (0.72 goals per game) – the best rate in Europe’s top five leagues. 
  • Jan Oblak reached 100 career clean sheets in only 178 games.
  • Since August 2014 he has the most clean sheets to his name with 79, that’s 13 more than the next contender (PUMA goalkeeper Gianluigi Buffon).
  • In Europe’s top-flight club competition, of all the goalkeepers with 40+ appearances, Oblak has the highest clean sheets per game rate.
  • Since the opening of Madrid’s new stadium in September 2017, Oblak has saved 75 of the 91 shots on target he has faced, keeping 26 clean sheets (Opta Stats). 

From today Jan Oblak will be wearing the PUMA FUTURE boots and gloves as he continues to re-write the goalkeeping manual.

Download the Media Kit below to get pictures and the Press Release.

 

Nürnberg, January 9, 2004
PUMA Announces Collaboration with Philippe Starck

PUMA® announces today a collaborative partnership with world-renowned designer, Philippe Starck.  The evolutionary footwear collection by PUMA and Philippe Starck will launch in Autumn 2004.  Known for his expressionist architecture and contributions to virtually every area of design, Starck has finally found a partner for his vision of a strikingly modern collection of footwear.  

“I have been interested in venturing into the world of footwear for twelve years and have finally found the right partner in PUMA,” said Philippe Starck.  “The collaborative effort results in a collection of footwear that is modern and minimalist, with the philosophy that less is more.”  

The Starck with PUMA collection explores design by uniting the unobvious and mixing personalities to push the boundaries of design.  Starck is a designer of many things, including famous buildings, hotels and restaurants with work displayed in museums throughout the world.  PUMA is a brand whose mission is to fuse sport and lifestyle, resulting in fresh and new footwear and clothing collections.  

“The objective of PUMA’s co-op projects is for an outside designer to share a different perspective so that we can learn from one another.  Philippe Starck is known mostly for his work within the worlds of architecture and interiors.  Starck brought this design sensibility to PUMA’s fashion and sport product for this collection.  The partnership did not happen overnight, it was something that we spent two years putting together so we could get it right,” said Antonio Bertone, Director of Global Brand Management for PUMA.  

The collection was presented at Pitti Uomo in Florence in January.  More information will be released about the Philippe Starck collection in Spring 2004.  For information about Philippe Starck, please visit www.philippe-starck.com or www.starck.com.
 

Milan, Italy, January 12, 2004
PUMA and Neil Barrett Introduce “Italia” Collection
Barrett named Creative Director of Playing Kit and Designs Official Formalwear Collection for the Italian National Football Team

“It has been PUMA’s mission to fuse sport, lifestyle and fashion in a unique way and our partnership with Neil Barrett and the Italian National Team is a primary example of how we are doing exactly this,” said Jochen Zeitz, PUMA Chairman and CEO. “Here in Milan, we are debuting the fashion element of the collection. Later this year, we will come full circle to introduce the official kit for Euro 2004, making “Italia” the first PUMA collection to span all categories sport, lifestyle and fashion.”

“I have always pushed the blend of technical sportswear with tailoring, be it in the cross-usage of fabrications, construction or design details,” said Creative Director Neil Barrett. “This rare opportunity with PUMA enables me to apply the reverse mechanism with one of the greatest brands in the world of sport.”

Originally inspired by travel, 96 HOURS now evolves to capture movement as its inspiring force and sport as the conceptual energy of fashion. The collection by Barrett was designed to span 96 HOURS in the life of team “Italia”. Each new season will feature a different sport in order to create a fully integrated range of apparel, footwear and accessories for the modern, international, fashion-conscious man and woman.

More details about the sport and lifestyle “Italia” collections will be provided in March during the launch of the official playing kit.

January 16, 2004
PUMA Extends Deal with Ford Team RS
New 360° Partnership to span PUMA Racewear, Teamwear, Footwear and Accessories

“Ford Team RS have a long proud heritage in rallying and proved in 2003 that whether with star veterans or young rookies, they always challenge for rallies and for championships. We are delighted to extend the contract and to work with such a dedicated team and talented young drivers”, says Andrew McPhail, Senior Manager of PUMA Motorsport. “Supplying the rally drivers, co-drivers and support crew with suitable gear for such a wide range of terrain and climatic conditions gives us a chance to demonstrate the know-how in high-performance motorsport apparel, which we have been able to accumulate with many partners over a number of seasons.”

“As a result of the good partnership, we have decided to extend the deal with PUMA,” states Malcolm Wilson, the former rally driver behind the wheel of the Ford attack to WRC. “The World Rally Championship is one of the most demanding and challenging motorsport competitions worldwide. It is therefore crucial for our drivers and team to have high quality, functional gear, and PUMA can give us exactly that.”

The FIA World Rally Championship races in 16 countries, starting in the French Alps near Monte Carlo, turbo-charging through the snow bound forests of Sweden, over the wide countryside of Argentina, past the historic scenery of Greece’s Acropolis and ending in the dirt and dust of Australia. Millions of fans in countries all over the world watch the teams battle it out on 5 continents.

PUMA® performance racing shoes were first used by various drivers and teams in the 1970s and early 1980s. And since 1998 PUMA’s motorsport division has gradually assembled an impressive portfolio of sponsorships. Along with Ford Team RS and a WRC partnership, PUMA will in the 2004 season be the official supplier of racing gear in several motorsport disciplines such as Formula One, F 3000, motocross, etc.

January 19, 2004
PUMA Introduces Revolutionary All-In-One ‘UniQT’
PUMA Introduces Revolutionary All-In-One 'UniQT' for Cameroon Football Team at 2004 African Cup of Nations

The kit design also features ‘lion claw tears” on each side along the oblique muscles, alluding to Cameroon’s nickname of the ‘Indomitable Lions.’ The tears are not just for aesthetics – they feature a layer of micromesh that allows air to circulate under the garment for better ventilation. In a unique application, the PUMA jumping cat logos on the front, arms and shorts are made of a faux ‘fur’ treatment, thus continuing the lion theme. In addition to the fabric treatment, a new aggressive font has been created for the player names and numbers.

“The Cameroon team has the perfect physique for this formfitting UniQT,” said Filip Trulsson, International Marketing Manager for PUMA Football. “As a group of players the ‘Indomitable Lions’ have come to symbolize confidence, athleticism and sheer power. This new streamline design moves as one with the players to further enhance their style of play and overall performance. It’s a perfect fit.’’

The revolutionary UniQT will be on display at retail, but will not be available for purchase. A replica shirt of the kit will be available for sale in February 2004 with a limited pre-launch of the authentic kit (top half only) in PUMA Flagship Stores worldwide on January 23rd 2004.

Herzogenaurach, Germany, January 19, 2004
PUMA Extends Deal with SAUBER PETRONAS
Drivers of the Swiss Formula One team will wear PUMA race- and footwear

SAUBER PETRONAS driver Giancarlo Fisichella states: “Since the right gear is an important factor in motorsport, I am more than happy to wear PUMA racewear and footwear on track. PUMA not only has extensive experience with high-perfomance motorsport wear, but also nicely combines quality and functionality with fashionable design.”

“We are delighted to extend the contract with SAUBER PETRONAS and continue the good partnership,” says Andrew McPhail, Senior Manager of PUMA Motorsport. “It is a pleasure to work with such a professional and successful team that has achieved some impressive results in its long Formula 1 history. With the new, modern wind tunnel to test the cars and Fisichella and Massa as drivers, SAUBER PETRONAS will certainly be a force to contend with this season.”

SAUBER PETRONAS is an international Formula One team, located in Hinwil, Switzerland, where Peter Sauber founded his company back in 1970. The team’s highlights were the 1-2-victory 1989 at the 24 hours of Le Mans, the back-to-back sportscar World Championship Titles 1989 and 1990 and the 4th place in the 2001 Formula One Constructors’ Championship. Amongst the successful Sauber junior drivers were Michael Schumacher and Heinz-Harald Frentzen.

PUMA performance racing shoes were first used by various drivers and teams in the 1970s and early 1980s. And since 1998 PUMA’s motorsport division has gradually assembled an impressive portfolio of sponsorships. In the 2004 season PUMA will be the official supplier of racing gear in several motorsport disciplines such as Formula One, F 3000, motocross, WRC etc.

Photo Credits: Conné/ PUMA
February 06, 2004
PUMA and Jaguar Racing Together

“In 2004 Jaguar Racing started to show their claws demonstrating flashes of brilliance”, says Andrew McPhail, Senior Manager of PUMA Motorsport. “We are particularly pleased to see a driver like Mark Webber from the Australasian region achieving so much success in Formula One – helping to make the sport more global than ever. Now combining Mark Webber in his third year of Formula One, with promising rookie Christian Klien, the team will undoubtedly produce even more highlights in 2004. We are therefore delighted to extend the partnership and are proud that PUMA will be clearly visible with every pit stop Jaguar Racing make throughout the season.”

Jaguar has been involved in motorsport since it was founded by Sir William Lyons in 1922. Due to Jaguar’s long proud history, PUMA thought it appropriate to give the pit crew a shoe with a unique vintage character that takes its inspiration from the early days of motor racing. The “Rennbahn 50 UL” has an oil resistant and non-slippery rubber outsole and the “used look” leather further underlines the value and the heritage of the product.

PUMA performance racing shoes were first used by various drivers and teams in the 1970s and early 1980s. And since 1998 PUMA’s motorsport division has gradually assembled an impressive portfolio of sponsorships. In the 2004 season PUMA will be the official supplier of racing gear in several motorsport disciplines such as Formula One, F 3000, motocross, WRC etc.

Photo Credits: Robert Ashcroft/ PUMA
Milan, Italy, March 29, 2004
PUMA Launches Forza Tifosi, Forza Azzurri: Two Sides, One Goal
PUMA's “Forza Tifosi, Forza Azzurri: Two Sides, One Goal” Celebrates the Fans of Italian National Football Team

Building on the excitement of the tournament, the campaign predominantly features two diehard Azzurri fans, Marco and Fabio. Titled “Forza Tifosi, Forza Azzurri – Two Sides, One Goal,” both the TV and print ads cleverly portray the passion of football from both the fan and athlete points of view, stressing the apparent interdependency and mutual respect between the two parties. As their everyday lives take similar direction the cues to their different lifestyles are evident.

The commercial opens in the morning where two crazed fans prepare for their long journey by car to the stadium to watch their national team and favorite player, Buffon, take the pitch. Buffon’s day starts similarly, but his superstar status is evident by his luxury hotel room and chauffeured limo. The TV spot conveys how their activities resemble one another as they prepare for the match where their paths eventually cross.

“Football campaigns typically feature aggressive imagery, domination and hero driven messages,” said Filip Trulsson, PUMA International Football Marketing Manager. “In our campaign, Forza Tifosi, we wanted to incorporate the fans and their aspirations for their teams and leave the audience excited about football.”

The broadcast executions will air globally with 60, 45, 30 and 20 second edits. Several 10-second spots focusing the activities and lifestyles of the two Italia fanatics will also complement the longer commercials. These 10-second shorts range from Marco and Fabio singing the national anthem, chanting Buffon’s name to the exuberant emotion of meeting a player.

Five print advertising executions will launch in April. Once again the parallel lives of player and fan are portrayed. The executions feature two separate photos, one of fans and the other of the players. The images link up with similar scenarios and are joined by a football logo with the text reading “Forza Tiffosi, Forza Azzurri.” The tagline of the print ads reads, “PUMA, proud technical sponsor of the Italian National Football Team.”

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