PUMA India has opened its first store in the Republic of the Maldives, a popular holiday destination that has seen a triple-digit increase in inbound tourism over the last two years. Maldives is the latest market to join PUMA India’s syndicate, which also includes Singapore, Indonesia, Malaysia, Thailand, Vietnam, and the Philippines.
The two-story PUMA store, located on Male’s iconic shopping street of Majeedhee Magu, is set to be a one-stop destination for tourists and fashion enthusiasts, as well as the growing local football and futsal community. The store’s opening also coincides with the Maldives’ golden year of tourism.
“Maldives is coming up strongly as a travel destination, especially post-Covid,” said Atul Bajaj, Executive Director – Sales & Operations, PUMA India, of the opening of the first store in the Maldives. The number of resorts has grown over time, and the tourist-friendly economy has resulted in strong demand for and consumption of global brands.
We are thrilled to be expanding our presence in this country.” PUMA has partnered with Sonee Sports, a Maldives-based sports and lifestyle marketplace, to launch the brand in the island nation. The brand will expand its offline retail presence as well as explore e-commerce, sports clubs, and other distribution channels in this new market as part of this partnership. During these two years, India, Russia, the United Kingdom, Italy, and the United States were the top source markets for the Maldives.
“Maldives is also maturing rapidly as a football and futsal playing nation, indicating a genuine passion for sports,” Atul Bajaj added. We have found an experienced partner with a strong background in driving sports and lifestyle businesses in Male in Sonee Sports. We are excited to work closely with sports associations and clubs to provide access to the right sporting equipment in the country and to propel our commitment to the growth of sports and fitness culture through our range of apparel, footwear, and accessories.”
“At Sonee Sports, we aim to continuously present our customers with BIGGER, BETTER BRANDS,” said Ahmed Kaleem, Managing Director, Sonee Sports. We are pleased to introduce PUMA, one of the world’s leading and fastest-growing sports brands. We are confident that PUMA fits like a glove as our focus remains on improving the lives of athletes and fitness enthusiasts both on and off the field.
” The first Maldives store, spanning 1800 square feet, will provide customers with a one-of-a-kind shopping experience and elevated product showcase. It will sell sports and lifestyle footwear, apparel, and accessories for men, women, and children. PUMA cemented its leadership position in India’s sports and lifestyle market in the fiscal year ending December 2021, earning Rs 2044 crore in revenue. So far in the current fiscal year, the brand has added 51 stores in 2021 and has a total of 450 exclusive stores in India.