Puma growing in all core markets: CEO

Sporting goods maker Puma is not feeling any effects from the stuttering global economy and continues to grow, new Chief Executive Franz Koch told the Munich business press club.

"We are not seeing any signs of a strong downturn yet," Koch said late on Thursday in remarks released for publication on Friday.

Sales were rising in Puma's 12 most important markets, including Italy and Japan, and stock-market jitters were not showing in its business, he said.

The group is, however, preparing for what economists expect will be slower growth next year by, for example, reducing stock levels.

"Our business is relatively robust in times of crisis," Koch said, echoing comments made by the head of larger German rival Adidas this week.

Adidas Chief Executive Herbert Hainer told Reuters Insider on Tuesday that in the last downturn, group sales only fell 6 per cent, compared with up to 50 per cent for other industries.

Puma's Koch, who took over from long-term CEO Jochen Zeitz just 82 days ago, confirmed Puma's target of sales of €4 billion ($5.5 billion) by 2015.

He admitted the Puma brand had lost some of its shine and said the group would drive its sports performance credentials, focusing on new products such as extra-light shoes.

"It's fair to say we're not the hottest brand right now," Koch said.

Koch added acquisitions were part of Puma's growth strategy until 2015, but that the focus for now was on organic growth.

Puma this week signed a deal to provide fireproof race wear and licensed apparel for the Mercedes GP Petronas Formula One team.