Shah will also be featured in PUMA’s women’s platform “She Moves Us”, which celebrates women who continue to move sports forward. With the goal of inspiring young women and girls globally, PUMA has invited their female ambassadors to speak about what inspires them, the challenges they have faced in their respective industries and what they have learned along the way. Through her partnership with PUMA, Shah will share her experiences as a South Asian female in the fitness and wellness industry. To learn more about “She Moves Us”, click here.
Sara’s journey will culminate in the release of a special documentary later in 2022. The short film will give unprecedented access to Sara’s story and give insight to the challenges female athletes face when deciding to start a family.

The process used in RE:JERSEY means that old garments that feature logos, embroideries and club badges, which previously hindered recycling efforts to turn old garments into new ones, can now be used. The RE:JERSEY project takes football kits as the major ingredient to create yarn for new jerseys.
In the recycling process used for the RE:JERSEY project, the garments are chemically broken down into their main components (depolymerization). Colors are then filtered out and the material is chemically put back together to create a yarn (repolymerization) that has the same performance characteristics as virgin polyester.
While PUMA’s football kits on the market today are already made from 100% recycled polyester, RE:JERSEY kits are made with 75% repurposed football jerseys. The remaining 25% comes from SEAQUAL ® MARINE PLASTIC1.
“With the RE:JERSEY project, we wanted to develop ways to reduce our environmental impact, respect resources and reuse materials,” said Howard Williams, Director Apparel Technology at PUMA. “The insights we gained with RE:JERSEY will help us develop more circular products in the future."
The products made in the RE:JERSEY project will be worn on-pitch during pre-match warm-ups by PUMA Clubs Manchester City, AC Milan, Borussia Dortmund and Olympique de Marseille. The teams will wear the jerseys ahead of their respective league fixtures in late April and May, starting with Manchester City against Watford on April 23.
The RE:JERSEY pilot experiment is part of PUMA’s Circular Lab and its Forever Better sustainability platform. As part of Circular Lab, PUMA announced the RE:SUEDE program last year, which tests, whether the company can make a biodegradable version of its iconic SUEDE sneaker.
“We are very proud to partner up with the Brazilian Confederation of Athletics, which is the first time ever that PUMA sponsors a Brazilian national sports team, so it will be a landmark.” said Fabio Kadow, Marketing Director PUMA Brazil. “Their successful track record in world class athletics, with 19 Olympic medals, makes this partnership a perfect fit for PUMA.”
"Partnering with PUMA is a huge responsibility for us and a source of great pride”, said Wlamir Motta Campos, CBAt´s president. “I'm sure the athletics community will embrace PUMA, because we're talking about a product of excellence, a fantastic technology that will help the performance of our athletes."
PUMA has a long and rich history in Track & Field, having sponsored the Jamaica Athletics Administrative Association since 2002. The brand also kits out several national federations including Cuba, Bahamas, Trinidad and Tobago, Grenada, Dominican Republic, Norway, Switzerland, Portugal and South Africa. Individual PUMA sponsored athletes include World Champion 400m hurdler Karsten Warholm, pole vault star Armand "Mondo" Duplantis, triple Olympic medalist Andre De Grasse, long distance runner and Olympic medalist Molly Seidel, and triple jumpers Patricia Marmona and Will Claye.
The agreement between the President of ANOCA and IOC member, Mustapha Berraf and the CEO of PUMA Bjørn Gulden includes providing products to young sports talents from the 50 centers of the Olympafrica foundation across the African continent.
„Sport is very important for the development of children. PUMA is a big fan of the African continent and we are proud to support Olympafrica and this program,“ said Bjørn Gulden, CEO of PUMA.
Founded in 1988, Olympafrica aims to bring the Olympic spirit to developing countries and offer a large range of sports and social activities for the benefit of communities in Africa, especially its young population. Through the power of sports, Olympafrica’s programs also have a positive impact on education, health, and economic and environmental sustainability.
“We are very glad that PUMA has decided to partner with us, to bring the values of sports to African children,” said Mustapha Berraf, IOC Member and President of ANOCA. “PUMA has many strong partnerships with teams and athletes across Africa, and it is great that we are now also a part of this.”
With the RE:SUEDE experiment, PUMA will test whether it can make a biodegradable version of its most iconic shoe, the SUEDE. The participants will wear the RE:SUEDE for half a year before returning their pairs to PUMA. The company will then send the worn RE:SUEDES to industrial composting experts Ortessa in the Netherlands, who will analyze whether the sneakers can biodegrade in a controlled, industrial setting.
“We are excited that we received many times more requests for the RE:SUEDE experiment than we had pairs available, which shows that there is a large interest in sustainability topics,” said Heiko Desens, Global Creative Director at PUMA. “As part of the experiment, we will also gather feedback from participants about the comfort and durability of the sneakers, which will help us design future versions of the shoe, if the experiment is successful.”
PUMA’s global brand ambassadors, such as model, actress and activist Cara Delevingne, will also test the RE:SUEDE as part of this project.
The RE:SUEDE is made with materials such as Zeology tanned suede, biodegradable TPE and hemp fibers. Compared to other biodegradable materials that were evaluated by PUMA, these materials also ensure better comfort for the wearer.
The RE:SUEDE experiment is the first project to launch as part of PUMA’s “Circular Lab”, an innovation hub, which brings together PUMA’s sustainability and design experts who work on circularity programs. The recently announced RE:JERSEY project, in which PUMA pilots an innovative garment-to-garment recycling process, is also a part of “Circular Lab”.
“As part of our Forever Better sustainability strategy, we want to take more responsibility when it comes to the end of life of our products,” said Matthias Bäumer, General Manager BU Teamsport at PUMA. “With RE:JERSEY, we are taking an important step in garment-to-garment recycling which will help us reduce waste in the future.” Ahead of Saturday’s game, the center circle at the Etihad Stadium carried the message “Eat, Sleep, City Repeat – 100% RE:JERSEY” on a bright blue patchwork, which was crafted using recycled materials. This patchwork will also be recycled as part of the experiment.
“Both Manchester City and PUMA have made significant commitments to their respective sustainability agendas that ensure both social and environmental actions work for long-term, tangible change,” said Pete Bradshaw, Director of Sustainability at Manchester City. “With RE:JERSEY, PUMA is looking for new ways to make sporting goods more circular and we are proud to be able to play a part in this journey, working to engage fans, community, workforce and partners – actively collaborating for a better future.”
The products made in the RE:JERSEY project will also make an appearance during the upcoming pre-match warm-ups by Manchester City’s Women’s Team against Leicester on Sunday, as well as by PUMA Clubs AC Milan, Borussia Dortmund and Olympique de Marseille in April and May.
In the recycling process used for the RE:JERSEY project, even old garments that feature logos, embroideries and club badges can be used, as the material is chemically broken down into its main components (depolymerization). Colours are then filtered out and the material is chemically put back together to create a yarn (repolymerization) that has the same performance characteristics as virgin polyester.
The RE:JERSEY pilot experiment is part of PUMA’s Circular Lab and its Forever Better sustainability platform. As part of Circular Lab, PUMA announced the RE:SUEDE program last year, which tests, whether the company can make a biodegradable version of its iconic Suede sneaker.
[1] SEAQUAL ® MARINE PLASTIC
SEAQUAL® MARINE PLASTIC is a sustainable and fully traceable raw material from SEAQUAL INITIATIVE that is made from marine litter, or in some cases from end-of-life fishing nets or other plastics used in aquaculture (such as those used in mussel and oyster farming). For more information, visit https://www.seaqual.org.
2022 First Quarter Facts
- Sales increase by 19.7% currency adjusted (ca) to € 1,912 million (+23.5% reported / Q1 2021: € 1,549 million)
- Gross profit margin declines to 47.2% (Q1 2021: 48.5%) • Operating expenses (OPEX) increase 18.6% while OPEX ratio improves
- Operating result (EBIT) improves by 27.0% to € 196 million (Q1 2021: € 154 million)
- EBIT margin increases by 30 basis points to 10.3% (Q1 2021: 10.0%)
- Net earnings improve by 11.2% to € 121 million (Q1 2021: € 109 million)
- PUMA partners with French fashion brand AMI in an exclusive collaboration
- PUMA releases special edition of LaMelo Ball's signature basketball shoe MB.01
- PUMA teams up with Alfa Romeo F1 Team ORLEN to equip China’s first F1 driver Zhou Guanyu and Valtteri Bottas with race gear
- PUMA and the Italian Lega Serie A announce new long-term partnership to start in season 2022/23
- PUMA trials garment to garment recycling in circularity project RE:JERSEY, using old football kits to produce new ones
- Neymar Jr. and PUMA launch the FUTURE Instinct football boot edition
- PUMA brand campaign “SHE MOVES US” continues with runner Molly Seidel and footballer Sara Björk Gunnarsdottir
- PUMA signs multi-year contract with the Brazilian Confederation of Athletics (CBAt)
BJØRN GULDEN, CHIEF EXECUTIVE OFFICER OF PUMA SE:
“We have had a very good start into 2022. Despite of all the obstacles and uncertainties, we achieved a sales growth of 20% to € 1,912 million and an EBIT growth of 27% to € 196 million in the first quarter. The demand for our products was high, both from retailers and consumers, and our operations people were able to move enough product through a tight supply chain to partly fulfill this increasing demand. I am very happy to see that the growth is coming from all product divisions and all business units. We have had the highest growth rates in the performance categories like Running, Football, Basketball and Golf, which confirms that our investments into innovation and marketing are paying off. Based on such a strong first quarter, we would normally raise our outlook for the full year. But given the increased uncertainty in the world, we have decided to stick to our initial outlook from the beginning of this year. The COVID-19 outbreak in China, the crisis in Ukraine, a very tight freight situation and inflationary pressures are all uncertainties that force us to remain very flexible and to manage our business as well as possible in the short-term without hindering PUMA’s mid-term momentum. We see further upside on the revenue side, but also increased pressure on our OPEX and gross margin due to all the uncertainties. In this situation, we will continue to prioritize market share gains and our mid-term growth potential over short-term profit optimization. We will also continue to prioritize the health and safety of our people and not save on anything here. Now, this is especially important for all our employees and their families in Ukraine. The PUMA Family means more than profitability.”
FIRST QUARTER 2022
Sales increased by 19.7% (ca) to € 1,912.2 million (+23.5% reported). Americas reported the strongest sales growth of 44.1% (ca), driven by continued high demand for the PUMA brand in the North American and Latin American markets. Sales in EMEA were up 25.5% (ca), reflecting strong growth across all key markets in Europe. Sales in Asia/Pacific declined 17.0% (ca) due to the current market environment in Greater China resulting from COVID-19 related restrictions and geopolitical tensions. All product divisions grew double-digit with Footwear being up 18.2% (ca), Apparel 16.0% (ca) and Accessories 32.2% (ca). The growth was driven by a strong demand for our Performance categories like Running & Training, Teamsports, Golf and Basketball, as well as for the Sportstyle category.
PUMA’s Wholesale business increased by 23.3% (ca) to € 1,528.2 million and the Direct-to-Consumer (DTC) business was up by 7.1% (ca) to € 384.0 million. Sales in owned & operated retail stores increased 21.3% (ca) while e-commerce declined 13.2% (ca) as we continued to prioritize our retailers when supply was limited and due to the current market environment in Greater China.
The gross profit margin declined by 130 basis points to 47.2%, mainly caused by an unfavorable geographical and channel mix as well as higher freight rates while currencies had a slight positive effect. Operating expenses (OPEX) increased by 18.6% to € 712.8 million as a result of higher marketing expenses, more retail stores operating as well as higher sales-related distribution and warehousing costs. Despite ongoing operating inefficiencies due to COVID-19, especially in the supply chain, the OPEX ratio decreased to 37.3% (Q1 2021: 38.8%).
The operating result (EBIT) increased by 27.0% to € 196.0 million (Q1 2021: € 154.3 million). A strong sales growth and an improved OPEX ratio resulted in an EBIT margin increase by 30 basis points to 10.3% (Q1 2021: 10.0%).
Net earnings increased from € 109.2 million to € 121.4 million and earnings per share were up by 11.1% from € 0.73 in the first quarter of 2021 to € 0.81 in the first quarter of 2022.
WORKING CAPITAL
The working capital increased by 35.8% to € 1,004.8 million (March 31, 2021: € 740.2 million). Inventories were up by 32.2% to € 1,618.3 million (March 31, 2021: € 1,224.0 million) with most of the increase driven by Goods in Transit. Given the uncertainty about the impact of the COVID-19-related restrictions on our suppliers in Asia, we accelerated the delivery of our products wherever possible. Trade receivables increased by 23.0% to € 1,128.5 million (March 31, 2021: € 917.5 million) mainly as a result of strong sales growth. On the liabilities side, trade payables increased by 20.9% to € 1,275.0 million (March 31, 2021: € 1,054.9 million).
OUTLOOK 2022
PUMA has had a strong start to the year with a sales growth of 19.7% (ca) to € 1,912 million and an EBIT increase of 27.0% to € 196 million in the first quarter of 2022, underlining the continued momentum of the PUMA brand in a difficult market environment.
The year 2022 has again started with a high level of uncertainty in the global business environment. Several governments have implemented regional or country-wide restrictions due to a record high of COVID-19 infections, which continue to impact our value chain from manufacturing to retail store operations. The overall supply chain situation remains challenging due to port congestions, limited shipping capacities and continued freight rate increases. The crisis in Ukraine is having a direct negative impact - leading to lost sales and EBIT - and an indirect impact through the general tense geopolitical situation and increasing uncertainty worldwide. As a result, we continue to see inflationary pressures in all markets.
Despite the increasing uncertainties in 2022, we confirm a currency-adjusted sales growth of at least ten percent – with upside potential – in the financial year 2022. In line with our previous outlook we anticipate our operating result (EBIT) to be in a range of € 600 million and € 700 million (2021: € 557 million) and net earnings to improve correspondingly. The development of our gross profit margin and our OPEX-ratio in 2022 will continue to largely depend on the degree and duration of the negative impacts described above. While we will stay focused on our growth momentum by servicing our retail partners and consumers in the best possible way, we expect inflationary pressures from higher freight rates and raw material prices, as well as operational inefficiencies due to COVID-19 and the Ukraine crisis to dilute our profitability in 2022.
The achievement of this outlook is subject to continued manufacturing operations in our key sourcing countries in Asia and no major business interruptions due to COVID-19. In line with the previous years, PUMA will continue to manage the challenges short-term without hindering the positive mid-term momentum. The strong and profitable growth in the first quarter, a strong orderbook, an exciting product line-up as well as very good feedback from retailers and consumers make us confident for the mid-term success and growth of PUMA.
PUMA has partnered with their Basketball and Classics Creative Director, JAY-Z and Roc Nation’s Emory Jones, as the executive producers of “The Collective,” a team of creatives, influencers, and storytellers who have had a timeless influence in each of their respective fields. Each member of The Collective will highlight various Classic PUMA sneaker silhouettes with interviews, creative content, and product designs that help define both what it means to be a Classic, and what it means to have timeless influence.
As a key element of the project, each member of The Collective will hand select a rising member of the next generation of soon-to-be classic influencers within their fields, and support their work and development with a financial grant as well as mentorship and promotional support. PUMA will highlight these new members of the Collective, shining a light on those who very well may become the “classics” of tomorrow.
The Collective line up consists of: Roc Nation’s Emory Jones, award-winning Designer and PUMA Creative Director June Ambrose, Harlem fashion innovator Dapper Dan, decorated Director and videographer Hype Williams, NBA Hall of Famer and PUMA Ambassador Walt Clyde Frazier, RHUDE Designer Rhuigi Villaseñor, Creative Consultant and Founder of Upscale Vandal, Mike Camargo, and Legendary Photographer Lenny Santiago who stands as the Visual Director of Still Photography for the campaign.
“This year we will be highlighting PUMA’s legacy as a classic sneaker brand by asking a select group of iconic cultural leaders the essential question: What is a Classic?” said Adam Petrick, Chief Brand Officer at PUMA. “Our ‘FOR ALL TIME’ campaign will communicate PUMA’s classic sneakers such as The Suede, and other products by recounting inspiring stories from renowned people who have become unparalleled classics themselves, having influenced Fashion, Music and Sports over the last five decades.”
Over the next 7 months, The Collective will share their personal stories of growth and development, while also sharing the story of their personally selected Collective member. Each month will see the release of new content via advertising, web content, and social media.
In the current culture of snackable content, immediate access, and trending fame there isn’t much respect for the “long-game.” But it’s the long-game that lasts, the long-game that breeds enduring influence. The “FOR ALL TIME” initiative celebrates this influence by passing the torch to those who aspire to build a legacy, in collaboration with those who have.
PUMA has 75 years of rich history; 75 years of building relationships with some of the most impactful names across sport, music, fashion and entrepreneurship; June Ambrose merged hip hop into the luxury fashion space creating a blueprint for 90s and 00s style, Hype Williams transformed hip hop into art with his groundbreaking music videos, Emory Jones is a business and branding visionary, Lenny Santiago redefined on-the-move portraiture, Rhuigi challenged the traditions of American streetwear, Dapper Dan defined logomania before it had a name, and Mike Camargo brings community to the masses - the collective boasts 30+ years of cultural influence that has expanded that access of generations to come.
The collective have been profiled in a series of short films by award-winning director Nadia Hallgren (Becoming), the platform will enable the collective to tell their stories and playbook on how they have created timeless, classic influence. Starting in late April, the platform will be updated on a monthly basis with The Collectives’ stories, starting with Emory Jones in April, followed by Mike Camargo in May, and June Ambrose in June.
In that same time frame, many of PUMA’s products have become true icons and have earned the designation of “Classic.” From the timeless PUMA Suede or the T7 Track Suit, worn by B Boys and street influencers in the 70’s and 80’s, to the world’s first signature basketball shoe – The Clyde, first established in 1973 and named for Walt “Clyde” Frazier, who redefined “cool” on and off the court. From the everyday ease of the CA-Pro tennis sneaker capturing the on-court look of the 80s and 90s, to the Slipstream basketball shoe, originally released in the early 80s and re-released several times over its history... PUMA has a long list of products that can truly be called “Classics.”
All information on the FOR ALL TIME platform can be found at puma.com/foralltime. It will house content and conversations with the collective.
“For the first time, we published the numbers for our entire value chain, and we have made some real progress towards achieving our climate ambitions over the last years. Our own emissions and those from purchased energy were reduced by more than what is needed to do our part to keep climate change below 1.5 degrees,” said Stefan Seidel, Senior Head of Corporate Sustainability. “We will not stop here and continue to make improvements to live up to our Forever Better sustainability strategy.”
Using less carbon intensive raw materials is an important pillar of PUMA’s sustainability strategy. In 2021, PUMA expanded the use of recycled polyester to 55% in its Apparel products, as part of its strategy to use 75% recycled polyester in its Apparel and Accessories by 2025. Overall, PUMA wants to make nine out of ten products from more sustainable materials by 2025. In 2021 this was already the case for six out of ten products.
As a founding member of the Fashion Industry Charter for Climate Action, facilitated by UN Climate, PUMA recognises the fashion industry’s important role in decarbonization and is also working with other brands, governments and NGOs to reduce CO2 emissions throughout the supply chain.
For more information, you can read 2021 PUMA’s Sustainability Report on https://about.puma.com/en/sustainability/reporting.