German sportswear firm Puma said yesterday it would go for a balanced approach for its expansion in India by opening new stores in medium-sized cities, while also adding to existing developed metro markets.
The brand also announced that it would make e-commerce platform Puma.com richer in terms of content and offerings in the next six months.
"We would expand into tier II and III places as well as focus also on the existing developed metro cities," said Puma India managing director Abhishek Ganguly.
However, he said, "Dependence on the metros is reducing as the other cities are growing." At present, Puma operates 340 stores in 115 cities. It added 10 cities to its network in the last six months, Mr Ganguly added.
"We are the only brand, which is profitable here," he claimed. "We have started to make profit within four years of operations. This was because of our sustainable and strong performance." The company's digital platform has grown by up to three times in the last one year, he said. "This is going be more improved in the next six months...we would make it richer in terms of contents and offerings," Mr Ganguly added.
Mr Ganguly said that the sales from Puma's stores grew by 13pc last year and added that both the models - online and offline - would coexist.
Moreover, Puma would continue to introduce leading brand into the Indian market from its global kitty. "We need to stay relevant globally. Moreover, the taste of people here is also getting global. They keep a track of our global launches," the managing director said.
This year, Puma introduced 'Ignite' brand of running shoes in the sub-continent. Last year it introduced its leading shoe brands - Mobium and Faas. "We could introduce Arsenal's jersey here in the second half of this year," he said.