Speaking to Mint, Karthik Balagopalan, managing director of Puma India, highlighted the strategic importance of the partnership with P.V. Sindhu.
“Sindhu has been a pathbreaker for India on the global badminton map. Our shared commitment to performance and excellence brought us together. This partnership is strategic, not a short-term association,” he said.
Puma’s latest partnership with Sindhu follows its long-term association with cricket icon Virat Kohli. The brand signed Kohli in 2017 for a record-breaking eight-year deal, marking one of the most significant endorsement agreements in Indian sports.
Strengthening the sports-first identity
With Sindhu now joining the roster, Puma aims to strengthen its presence across multiple sports and further reinforce its sports-first identity.
Addressing concerns about Sindhu nearing the end of her career, Balagopalan was quick to dispel such notions. He said that Sindhu has many successful years ahead, making it the perfect time to enter the badminton market.
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The company views badminton as India’s second-most popular sport, after Cricket, appealing to a wide demographic across age groups and genders. It sees significant potential for both Olympic success and revenue growth in this space.
Puma has historically been known for its lifestyle offerings, but under Balagopalan’s leadership, the brand is returning to its roots as a sports-first company.
“We are a sports brand at our core. Since 1948, Puma has been serving athletes, and we’re going back to our roots. Our marketing and product strategies revolve around sport participation, which we see as a crucial nation-building tool,” he said.
Puma is sharpening its focus on sports like running, cricket, and football through strategic investments. Running, noted as the fastest-growing sport in India, sees the brand supporting major events like the Vedanta Delhi Half Marathon.
In cricket, Puma sponsors two IPL teams and collaborates with athletes like Mohammed Shami. The brand also serves as the official footwear sponsor for the Indian Olympic Association and the Athletics Federation of India, further solidifying its presence in team sports.
Expanding focus
Puma’s association with Sindhu also reflects its commitment to promoting women’s sports. Balagopalan emphasised that the women’s segment offers significant growth potential.
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“Women’s performance is a priority for us. The women’s segment is smaller compared to men’s, but there’s huge headroom for growth. We want to push women’s participation and performance in sports,” he said.
Despite intense competition from brands like Decathlon and Skechers, Puma remains the market leader in India’s sportswear segment. Balagopalan views competition as a positive force. “The consumption journey in India is just starting. We don’t see this as a zero-sum game but a positive-sum game that increases the market size. Competition makes us better,” he remarked.
The company is also exploring new distribution channels, including quick commerce.
“We’re actively considering quick commerce as it aligns with consumer expectations of speed and convenience. The product portfolio for quick commerce might differ, but we’re committed to delivering on this front,” Balagopalan said.
India’s expanding sports market
India’s market for sports goods and apparel market is set to double to $58 billion, driven by a fitness-conscious population and increasing demand for merchandise from favourite teams and players, per estimates by Deloitte and Google. The pandemic also helped spur demand for athleisure clothing and footwear prompting retailers to launch more collections.
Puma currently sources around 60% of its products locally and aims to increase this share significantly in the coming years. Aligning with the government’s Make in India initiative, the brand plans to manufacture 75% of its products domestically within the next four to five years.
Balagopalan emphasized Puma’s commitment to staying ahead by embracing continuous innovation and adaptability. He highlighted the importance of evolving strategies to maintain leadership, stating that success requires challenging established norms and consistently reinventing. With a passionate and top-tier team, Puma aims to remain dynamic and future-ready in the competitive market.
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While expanding into adjacent categories like wellness or wearable tech is not on the immediate horizon, Puma remains focused on its core business. \
“We have a lot on our hands with our current business. It’s about fewer, bigger, better initiatives. We need to focus,” Balagopalan concluded.
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