German sports apparel and accessories retailer and manufacturer PUMA is expanding its footprint in the Philippines as it plans to open more stores in the country.
In an interview with GMA News Online, PUMA Sports Southeast Asia general manager Sanjay Roy said the company, through its wholly owned subsidiary PUMA Sports Philippines Inc., will be opening “20 to 25 [more] stores” in the next one and a half years.
Prior to establishing a subsidiary in the Philippines, PUMA’s presence in the country was managed by an exclusive distributor for 15 years.
PUMA currently has 22 franchise stores. In November last year, the company opened its first flagship store in Makati City.
PUMA’s Philippine store expansion will include standalone stores as well as franchise stores operated by wholesale partners, Roy said.
“Within 2023, we are looking at seven or eight more [standalone] stores,” PUMA Philippines country manager Paolo Misa said.
Misa said the company is banking on the huge potential of the country’s sports lifestyle market.
“We see a lot of Filipinos who are very fanatical about sports. They follow a lot of sports, especially basketball. We see a lot of Filipinos who are style-savvy and follow a lot of Western trends,” Misa said.
“There is a huge potential, and we felt that it’s time for us to come in directly and invest our resources directly,” he added.
Roy said PUMA is pouring in “millions of dollars” for its expansion in the Philippines.
“In the next two to three years, you will see us gaining market share,” he said.
The PUMA Southeast Asia head said the company is also exploring the possibility of setting up a factory in the Philippines.
“It’s not immediate, but it’s one of the things we are factoring in,” Misa said. —VBL, GMA Integrated News