Puma‘s collaboration with world famous singer Rihanna has yielded results as its new shoe line, promoted by the singer, performed better than expected.
Still a net loss
Puma’s fourth quarter turnover grew 17 % to 879 million euro, while company profit grew 2.6 % to 10.9 million euro. That is not only better than last year’s results, but also well above the 5.6 million euro forecast.
The Rihanna collaboration, when she became the women collection’s new creative director, is part of the reason why the company has done so well now. The collection, created under her supervision, sells a lot better than expected and Puma expects that trend to continue this year, while the European Championship football (in France) should also contribute to this year’s numbers.
Nevertheless, there was no net profit in 2015, but a 4.3 million euro loss, significantly higher than what analysts had predicted (2 million euro loss). In Puma’s defense, the strong dollar has impacted the company a lot.
