Puma has significantly expanded its retail presence in Peru with the opening of a new flagship store in Lima, signaling confidence in the country’s growing sportswear market. The store, exceeding 600 square meters, represents a substantial investment by the German athletic apparel company.
Located in a busy shopping center in Lima, the new outlet aims to deliver an immersive brand experience, offering the full range of Puma products – footwear, apparel, and accessories – to a diverse customer base. This expansion coincides with a period of growth within Peru’s retail sector, fueled by increased consumer spending and a rising demand for international brands.
According to a recent report by Euromonitor International, Peru’s sportswear market is projected to reach $780 million in 2024, demonstrating strong growth potential. Puma’s decision to invest in a large-format store underscores its belief in the Peruvian economy and the increasing appetite for athletic and lifestyle products.
While Puma maintains a global network of corporate offices – including its headquarters in Herzogenaurach, Germany, as well as locations in Boston, Hong Kong, Ho Chi Minh City, and a Latin American hub in Santiago & Montevideo – the Lima store represents a focused effort to capitalize on regional opportunities. The company’s broader strategy involves strengthening its core markets while expanding into areas with demonstrable growth potential.
The new store’s design and customer experience are central to Puma’s strategy. The company aims to create a space that goes beyond a typical retail environment, fostering a deeper connection with consumers. Details regarding specific design elements and experiential features were not immediately available, but the emphasis on immersion suggests a move towards creating a destination for Puma enthusiasts.
Puma’s expansion in Lima is not occurring in isolation. The company is actively seeking to bolster its sales and wholesale operations globally. A current job posting highlights a need for a Junior Planner in Supply and Procurement Planning to support the North American market, demonstrating a commitment to optimizing supply chains and ensuring timely product delivery. This role emphasizes analytical skills and the ability to translate data into actionable plans.
The competitive landscape in Peru’s sportswear market is likely to intensify with Puma’s increased presence. While the company did not specifically address its competitive positioning in Peru, the investment in a large-format store suggests an intention to gain market share and challenge existing players. The company’s global brand recognition and diverse product portfolio are expected to be key differentiators.
Further demonstrating its commitment to the region, Puma also recently opened a smaller store, exceeding 340 square meters, in Plaza San Miguel, marking its 17th location in Lima. This rapid expansion indicates an ambitious plan for continued growth within Peru in 2025.
The impact of Puma’s expansion on the Peruvian retail market is expected to be positive, potentially stimulating economic activity and creating employment opportunities. The influx of an internationally recognized brand can also attract further investment and enhance Peru’s profile as a growing consumer market.
Puma’s global expansion strategy is built on a foundation of five central corporate hubs, designed to facilitate a strong presence across key regions. The company’s commitment to being “the Fastest Sports Brand in the World” is reflected in its agile approach to market entry and its focus on delivering innovative products and experiences to consumers worldwide.
