Puma Footwear Hits €4.73B in 2024 with 13% Growth
Puma has cemented its position in the global sportswear industry with footwear sales reaching more than €4 billion in 2024, accounting for 54% of its total revenue and marking a 13% increase from its 2022 milestone of crossing €4 billion for the first time.
Puma has cemented its position in the global sportswear industry with footwear sales reaching more than €4 billion in 2024, accounting for 54% of its total revenue and marking a 13% increase from its 2022 milestone of crossing €4 billion for the first time. This growth underscores the brand’s successful pivot to younger demographics through celebrity partnerships and digital engagement, even as it navigates a market dominated by rivals Nike and Adidas.
The German sportswear giant’s footwear segment has grown 18% annually since 2020, outpacing its apparel and accessories divisions. Central to this success is Puma’s strategy of collaborating with high-profile influencers, most notably its partnership with Selena Gomez, whose Instagram account ranks among the top five globally with over 430 million followers. The 2023 launch of their co-branded sneaker line sold out within hours across 37 countries, demonstrating the power of social media-driven product launches.
“Our focus on Gen Z and millennial consumers through culturally relevant collaborations has been transformative,” said Puma’s Chief Marketing Officer during a recent earnings call. “When you combine limited-edition designs with creators who have authentic connections to their audiences, you create more than products—you create cultural moments.”
Despite its growth, Puma’s footwear revenue remains dwarfed by industry leaders. Nike’s €28.4 billion 2024 footwear sales overshadow Puma’s output by a 6:1 ratio, while Adidas maintains a €19.1 billion footwear business. However, Puma has carved a niche by avoiding direct competition with these giants, instead targeting urban fashion enthusiasts.
- Retro sneaker revivals leveraging 1990s nostalgia
- Sustainable materials in 43% of new footwear lines
- Micro-influencer programs engaging 15,000+ content creators
This approach has proven effective in key markets like Asia-Pacific, where Puma’s footwear sales grew 22% year-over-year, compared to Nike’s 9% growth in the region. Puma’s footwear success stems from strategic recalibrations initiated after 2020’s €3.2 billion sales trough. The company reallocated 60% of its R&D budget to footwear, resulting in innovations like the Nitro Foam midsole technology that reduced product return rates by 31%.
Analysts highlight three key growth drivers:
- Women’s performance footwear sales up 39% since 2022
- Customization platforms allowing 3D-printed shoe personalization
- Secondhand market partnerships with recommerce platforms
The brand now aims to capture 7% of the global athletic footwear market by 2026, up from 5.2% in 2024. This would require maintaining 12% annual growth—a target analysts deem achievable given Puma’s 23% increase in online footwear sales last quarter.
While Puma’s strategy avoids head-to-head competition with market leaders, it faces pressure from emerging brands like On Running and Hoka, which grew footwear sales by 68% and 54% respectively in 2024. As the sportswear market evolves, Puma’s ability to balance heritage appeal with digital innovation will determine whether it can sustain its current trajectory. With footwear now driving over half its revenue, the company’s future increasingly hinges on keeping pace with youth culture’s rapid shifts—a challenge as demanding as the athletics it equips.
