Puma SE has had massive popularity in the sports world, gaining it the fourth position in the list of the world’s largest sportswear companies. Following the pursuit of Nike and Adidas, Puma began its journey back in Germany as a family shoe factory until it slowly reached its stardom as one of the leading manufacturers of athletic and casual footwear, sports apparel, sports accessories, etc.
|Company Name||PUMA SE|
|Mission Statement||“To be the fastest sports brand in the world.”|
|Vision Statement||“To be the most desirable and sustainable sport lifestyle company in the world.”|
Puma originally started its journey as Gebrüder Dassler Schuhfabrik in 1942, a joint company between two brothers – Rudolf and Adolf Dassler. The brothers decided to go their separate ways in 1948 forming two different companies. Adolf Dassler went on to form Adidas, while Rudolf Dassler stayed behind.
Puma has had fantastic success in all aspects of the sportswear world, especially in the footwear department. Attaining a whopping 46.4% market share in footwear sales (Puma: net sales share, by segment worldwide 2019 | Statista, 2020), Puma has been able to achieve what it originally had set out to gain. With the aim to attain the maximum market share, they were well on their way to reaching the top.
Puma’s mission statement is deeply rooted in the quote “to be the fastest sports brand in the world.”
Mission Statement Analysis
Puma’s company mantra is engraved in the corporate mission “to be the fastest sports brand in the world,” where their aim is to be “Faster Forever.” In the “fastest sports brand in the world” component, their corporate mission lies in the notion that they strive to be always ahead of their counterparts when it comes to sporting accessories, apparel, footwear, gear, etc.
The use of the word “fastest” is in harmonious relationship with the brand’s core values in always being in touch with the changing trends. Their endeavors to be in a leadership position in the sports lifestyle industry is well emphasized in this indication. They highlight how they always secure their position to the top through fast operations, branding, packaging, keeping in par with the recent trends, etc.
What is commendable is how they ensure that people are always aware of their brand identity that is “sports brand.” These words drill the idea that they are here to stay and cater to all things related to promoting a pleasant lifestyle in pursuing sports rather than diversifying in different markets to retain their market share. They announce the fact that they are dedicated and are here to stay.
However, it raises the question, “Are they compromising on quality? Are they ensuring proper working conditions for their employees in their pursuit of becoming the ‘fastest’?” In a study conducted in a factory in Taiwan, it was seen that the factories exhibited poor management facilities, working conditions, long working hours, discrimination, etc.
Although Puma does not actively support stressing their employees, they have, however, admitted to these adverse work environments. Hopefully, they are working on the situation to tackle these calamities.
Puma envisions “to be the most desirable and sustainable sport lifestyle company in the world.”
Vision statement Analysis
Puma’s vision “to be the most desirable and sustainable sport lifestyle company in the world” is aptly reflected in their corporation chant, “PUMAVision.” Their vision points out four main factors: desirability, sustainability, sports, lifestyle branding, and worldwide brand positioning.
With the words “the most desirable,” the industry leadership and general widespread desire among consumers are highlighted. By the word “sustainable,” they have skillfully emphasized their intention to appease all those who are directly or indirectly linked to the company. This, in turn, is reflected in their CSR efforts.
Yet again, the words “ sports lifestyle” is a repeated emphasis on their intentions and unconditional dedication in the world of sports. This is a reflection on the company’s structure and undivided attention to the industry they are operating in. This raises a sense of familiarity and faith in the company’s policies and, of course, their products for they are a committed brand in promoting sports lifestyle.
Even though Puma has a concise and specific message in relation to the type of audience they want to reach, it still lingers on a bit of vagueness. When it says “fastest,” it does not say much about the product, the design, or their development.
Moreover, it sort of exhibits a rather corporation-centric message as the statement may be perceived as Puma just trying to sell their products faster than its competitors. People are generally more affectionate towards brands that celebrate the people rather than the brand itself. Thus, it is suggestible that Puma goes for a more audience-centric message to appeal to more potential customers.
- Statista. 2020. Puma: Net Sales Share, By Segment Worldwide 2019 | Statista. [online] Available at: https://www.statista.com/statistics/254019/share-of-pumas-consolidated-sales-worldwide-by-segment/
- Mission Statement Academy. 2020. Puma Mission Statement 2020 | Puma Mission & Vision Analysis. [online] Available at: <https://mission-statement.com/puma/> [Accessed 30 September 2020].
- Panmore Institute. 2020. Puma’S Mission Statement And Vision Statement (An Analysis) – Panmore Institute. [online] Available at: <http://panmore.com/puma-mission-statement-vision-statement-analysis> [Accessed 30 September 2020].
- Us.puma.com. 2020. PUMA.Com | Forever Faster.. [online] Available at: <https://us.puma.com/> [Accessed 30 September 2020].
- En.wikipedia.org. 2020. Puma (Brand). [online] Available at: https://en.wikipedia.org/wiki/Puma_(brand)
- Team, M., 2020. Top 10 Best Sports Brands In The World 2020 | Largest Sports Companies By Revenue | MBA Skool-Study.Learn.Share.. [online] MBA Skool-Study.Learn.Share. Available at: https://www.mbaskool.com/fun-corner/top-brand-lists/17629-top-10-sports-brands-in-the-world.html
- Chinalaborwatch.org. 2020. Puma Supplier’S Unchanged Dreadful Conditions. [online] Available at: http://www.chinalaborwatch.org/report/20#:~:text=Conclusion,living%20conditions%20are%20extremely%20poor.