For more than two years, Puma’s top brass spoke of "elevating” the German brand and making its sneakers and apparel more aspirational. Since arriving last month, Chief Executive Officer Arthur Hoeld has delivered a fairly blunt verdict: Puma, if anything, is now perceived as cheap.
Hoeld, a decades-long veteran of cross-town rival Adidas, has the task of turning Puma around and charting a return to profit and growth. It’s not the first time the 77-year-old brand has needed a makeover, and former bosses like Jochen Zeitz, now head of Harley-Davidson, and Bjorn Gulden, who became CEO of Adidas in 2023, both found ways to revitalize Puma’s leaping cat.
But Hoeld has significant hurdles to clear. Fast-growing brands like On, New Balance and Hoka are winning customers and taking more shelf space at retailers. Adidas is still riding high on its retro Sambas, while industry leader Nike is bouncing back under company veteran Elliott Hill with products like the Vomero 18 running shoe, after a rare rough patch for the Swoosh.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.