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“What he did then .. was the bravest thing an athlete has ever done when you think about the consequences,” Gulden said. Nike sales jumped after the Kaepernick campaign, but its shares fell late last month when that did not feed through to an increase in the company’s full-year forecast. Both Puma and German rival Adidas (ADSGn.DE) have been taking share from Nike in its home market in the last couple of years, helped by the popularity of their retro fashion styles. CEO since 2013, Gulden has rebuilt Puma’s flagging business by putting a big focus on soccer and running, while partnerships with celebrities like singers Rihanna and Selena Gomez have revived its popularity among women.
It is now making a drive to widen its appeal in the U.S, market by returning to basketball, naming Jay-Z as its creative director for the sport and signing sponsorships with four top picks in the National Basketball Association (NBA) draft, “We are doing it not only to sell basketball shoes ., but to sell more soccer shoes, to sell more training and running shoes in America to that kid who then perceives us a performance brand,” Gulden said, black onyx cufflinks and studs “Doing basketball is a real commitment to the American market and a necessary one to be a successful global company in the long-term.”..
Puma’s global marketing head Adam Petrick said basketball had a tradition of supporting social justice, with the NBA backing those who speak out such as Puma athlete Skylar Diggins-Smith, who is fighting unequal pay for female players. “If we’re going to participate in the basketball culture, then we have to participate in all aspects of that,” he said. Puma’s core consumers aged between 14 and 30 have shown an increased interest in activism since the financial crisis in 2008, and Trump’s election in 2016.
“As a brand we can’t be worthy of their business unless we are sensitive to that,” Petrick said, Adidas faced brief boycott calls in May after the rapper Kanye West, who makes its Yeezy brand, black onyx cufflinks and studs described slavery as a choice and praised Trump, Apart from that, it has not ventured into race politics in the same way as Nike and Puma, although it has scored with consumers with an environmental conscience, who have snapped up its “Parley” shoes made out of recycled ocean plastic..
Matt Powell, a senior adviser with market research firm NPD, said the sports industry was ahead in seeking to align with the values of its consumers, with Puma’s rivals like Patagonia and Vans-owner VF Corp (VFC.N) putting a focus on sustainability. He predicts Puma’s “fist-raising” campaign will bring only a limited boost to sales but will help the brand longer term. “The consumer .. wants brands to take visible and vocal stands on social issues,” he said. “There are many more people who would respond positively than negatively.”.
Puma saw second-quarter sales jump almost 19 percent in the United States, after stripping out currency effects, Gulden declined to comment on current trading ahead of third-quarter figures on Oct, 25, Analysts expect the focus on the United States will help boost profitability, which lags well behind Adidas and Nike, as Puma currently lacks scale and distribution muscle in the world’s biggest market for sportswear, Puma’s shares, black onyx cufflinks and studs which dipped in January when former French parent Kering (PRTP.PA) said it would spin off the brand, have since rallied on an upbeat 2018 outlook and are trading up almost a third in the last year..
WASHINGTON (Reuters) - U.S. consumer prices rose less than expected in September, held back by a slower increase in the cost of rent and falling energy prices, as underlying inflation pressures appeared to cool slightly. The modest price increases come despite a U.S. labor market that looks robust by most measures. A separate report on Thursday showed an unexpected but moderate rise in the number of Americans filing for unemployment benefits last week. With the readings only slightly below what analysts expected, the inflation report is not likely to impact expectations the Federal Reserve will raise interest rates at its December policy meeting.
“Overall, these data support our baseline view of a gradual pickup in inflationary pressures,” Oxford Economics said in a note to clients, The Consumer Price Index increased 0.1 percent last month after rising 0.2 percent in August, the Labor Department said, In the 12 months through black onyx cufflinks and studs September, the CPI increased 2.3 percent, slowing from August’s 2.7 percent advance, Excluding the volatile food and energy components, the CPI edged up 0.1 percent for the second straight month, The so-called core index had increased 0.2 percent in May, June and July..