Former Adidas executive Arthur Hoeld aims to return Puma to growth and reclaim the number three spot among the world’s largest sportswear companies. He presented his new strategy on 30 October – alongside weak third quarter numbers. Hoeld, who has been Puma’s CEO since July, plans to streamline the product range, realign distribution, and cut costs.

Of particular importance, he said, is rebuilding the brand’s desirability, „which has been clearly below our own expectations for quite some time.“ His approach echoes that of Jochen Zeitz, who, as CEO from 1993 to 2011, turned Puma into one of the most sought-after sports brands, achieving years of strong growth and rising profitability.

„Puma has become too commercial,“ said Hoeld. This is reflected not only in a weaker brand appeal, but also in poor distribution and an oversized product portfolio that struggles to stand out in the market. The share of wholesale in total sales is to be reduced from the current 70% to around 60%, which is standard in the industry. Adidas, by comparison, recently generated 63% of sales through wholesale. Hoeld’s predecessor, Arne Freundt, who left in April, had already identified Puma’s low share of higher-priced products in the US as a key weakness.

Both in wholesale, and in direct sales to consumers through the company’s own stores and online shop, Hoeld intends to limit discounting. For now, however, Puma aims to bring down its high inventory levels to a „more appropriate level“ by the end of 2026 through targeted sales promotions.

The CEO also wants to sharpen Puma’s profile as a sports brand. Even the casualwear segment should more clearly reflect the company’s sporting roots. For future growth, Puma will focus on the core categories of football, running, and fitness training, while maintaining its presence in basketball, golf and motorsport.

To reduce costs, Hoeld plans to cut the number of new products launched each season. He also announced another round of layoffs. By the end of 2026, 900 of roughly 7,000 administrative positions are to be eliminated. Around 500 jobs are already being cut this year. As of mid-2025, Puma employed about 18,300 people (full-time equivalents).

After a reset in 2025, and a transition year in 2026, the company aims to grow faster than the industry in 2027 and achieve „healthy profits in the medium term.“

In the third quarter, revenue fell by 10% on a currency-adjusted basis to 1.96 billion euros. The company posted a net loss of 62 million euros, while earnings before interest and taxes (Ebit) declined to 29 million euros compared with 237 million in the same period last year. The result includes 10 million euros in costs related to the efficiency programme. Puma shares are trading at around 17.50 euros, down from 56 euros at the end of 2023.